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

Provident Financial Services, Inc (NYSE:PFS) announced a quarterly dividend on Thursday, April 30th. Investors of record on Friday, May 15th will be paid a dividend of 0.24 per share by the savings and loans company on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, May 15th.

Provident Financial Services has raised its dividend payment by an average of 0.0%annually over the last three years. Provident Financial Services has a dividend payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Provident Financial Services to earn $2.53 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 37.9%.

Provident Financial Services Price Performance

PFS stock opened at $21.99 on Wednesday. The firm has a 50-day moving average of $21.60 and a 200 day moving average of $20.84. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $2.87 billion, a P/E ratio of 9.36 and a beta of 0.80. Provident Financial Services has a 1 year low of $15.92 and a 1 year high of $23.98.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings results on Thursday, April 30th. The savings and loans company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.06. Provident Financial Services had a return on equity of 10.98% and a net margin of 21.95%.The company had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $225.62 million. During the same period in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Provident Financial Services will post 2.36 EPS for the current year.

Provident Financial Services declared that its Board of Directors has authorized a stock repurchase plan on Monday, January 26th that authorizes the company to buyback $2.81 million in shares. This buyback authorization authorizes the savings and loans company to repurchase up to 0.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Provident Financial Services

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.