Provident Financial Services, Inc. (PFS) To Go Ex-Dividend on November 15th

Provident Financial Services, Inc. (NYSE:PFS) declared a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.24 per share by the savings and loans company on Friday, November 29th. This represents a $0.96 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Friday, November 15th.

Provident Financial Services has increased its dividend payment by an average of 1.4% annually over the last three years. Provident Financial Services has a dividend payout ratio of 43.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Provident Financial Services to earn $2.18 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 44.0%.

Provident Financial Services Stock Down 0.9 %

PFS stock opened at $19.03 on Thursday. The firm has a 50-day moving average price of $18.63 and a 200-day moving average price of $16.63. Provident Financial Services has a 12 month low of $13.07 and a 12 month high of $19.97. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $2.48 billion, a P/E ratio of 18.30 and a beta of 1.03.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.10). The company had revenue of $349.38 million during the quarter, compared to the consensus estimate of $211.25 million. Provident Financial Services had a net margin of 9.38% and a return on equity of 4.95%. During the same period in the previous year, the company earned $0.38 EPS. As a group, equities research analysts anticipate that Provident Financial Services will post 1.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Provident Financial Services news, EVP Vito Giannola sold 5,499 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $18.09, for a total value of $99,476.91. Following the sale, the executive vice president now owns 88,656 shares in the company, valued at approximately $1,603,787.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised Provident Financial Services from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $20.00 to $21.00 in a report on Thursday, August 15th. Royal Bank of Canada boosted their price target on Provident Financial Services from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, StockNews.com downgraded Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

Provident Financial Services Company Profile

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.