Provident Financial Services, Inc (PFS) To Go Ex-Dividend on February 13th

Provident Financial Services, Inc (NYSE:PFS) declared a quarterly dividend on Wednesday, January 28th. Stockholders of record on Friday, February 13th will be paid a dividend of 0.24 per share by the savings and loans company on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, February 13th.

Provident Financial Services has decreased its dividend payment by an average of 0.0%annually over the last three years. Provident Financial Services has a payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Provident Financial Services to earn $2.26 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 42.5%.

Provident Financial Services Trading Down 0.1%

PFS stock opened at $22.21 on Friday. The business has a fifty day moving average price of $20.24 and a 200 day moving average price of $19.42. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 1.02. Provident Financial Services has a fifty-two week low of $14.34 and a fifty-two week high of $22.46. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 9.96 and a beta of 0.85.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings data on Tuesday, January 27th. The savings and loans company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. Provident Financial Services had a return on equity of 10.69% and a net margin of 21.06%.The company had revenue of $225.03 million for the quarter, compared to analyst estimates of $224.08 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Analysts expect that Provident Financial Services will post 2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Provident Financial Services from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Provident Financial Services in a report on Thursday, January 22nd. DA Davidson downgraded Provident Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Royal Bank Of Canada set a $25.00 price objective on Provident Financial Services in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Provident Financial Services presently has an average rating of “Moderate Buy” and an average target price of $23.70.

Provident Financial Services Company Profile

Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.

Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.