Provident Financial Services, Inc. (NYSE:PFS) declared a quarterly dividend on Thursday, January 25th, Zacks reports. Investors of record on Thursday, February 15th will be paid a dividend of 0.20 per share by the savings and loans company on Wednesday, February 28th. This represents a $0.80 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, February 14th.

Provident Financial Services has increased its dividend payment by an average of 9.1% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Provident Financial Services has a payout ratio of 51.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Provident Financial Services to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 43.7%.

Shares of Provident Financial Services (NYSE:PFS) traded up $0.06 during trading on Friday, reaching $25.20. The company had a trading volume of 48,002 shares, compared to its average volume of 192,653. Provident Financial Services has a one year low of $23.19 and a one year high of $28.76. The company has a market cap of $1,706.62, a PE ratio of 17.37, a P/E/G ratio of 1.83 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 1.36.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Friday, January 26th. The savings and loans company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). The company had revenue of $85.20 million during the quarter, compared to the consensus estimate of $85.36 million. Provident Financial Services had a return on equity of 7.61% and a net margin of 24.75%. During the same period in the prior year, the business posted $0.35 earnings per share. equities research analysts anticipate that Provident Financial Services will post 1.75 EPS for the current fiscal year.

In other news, Director Carlos Hernandez sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $27.58, for a total transaction of $82,740.00. Following the completion of the transaction, the director now owns 81,958 shares in the company, valued at $2,260,401.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Frank L. Fekete sold 9,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $27.33, for a total value of $245,970.00. Following the transaction, the director now owns 48,903 shares of the company’s stock, valued at approximately $1,336,518.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,175 shares of company stock valued at $608,286. Company insiders own 2.90% of the company’s stock.

A number of equities research analysts have commented on PFS shares. Zacks Investment Research raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday, November 1st. Sandler O’Neill raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Friday, January 26th. ValuEngine cut Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Boenning Scattergood reissued a “hold” rating on shares of Provident Financial Services in a report on Friday, October 27th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $28.50 price target on shares of Provident Financial Services in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Provident Financial Services has a consensus rating of “Hold” and a consensus target price of $28.42.

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About Provident Financial Services

Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.

Dividend History for Provident Financial Services (NYSE:PFS)

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