Provident Financial Services, Inc. (NYSE:PFS) announced a quarterly dividend on Thursday, January 25th, Zacks reports. Investors of record on Thursday, February 15th will be given a dividend of 0.20 per share by the savings and loans company on Wednesday, February 28th. This represents a $0.80 annualized dividend and a yield of 3.15%. The ex-dividend date is Wednesday, February 14th.

Provident Financial Services has increased its dividend by an average of 9.1% per year over the last three years and has raised its dividend every year for the last 7 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%.

Provident Financial Services (PFS) traded up $0.25 during trading on Friday, reaching $25.39. 43,175 shares of the company traded hands, compared to its average volume of 192,622. The stock has a market cap of $1,706.62, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94. Provident Financial Services has a one year low of $23.19 and a one year high of $28.76. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 1.36.

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

In other news, Director Frank L. Fekete sold 9,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $27.33, for a total transaction of $245,970.00. Following the completion of the transaction, the director now directly owns 48,903 shares in the company, valued at approximately $1,336,518.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald W. Blum sold 6,100 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $28.47, for a total value of $173,667.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,175 shares of company stock valued at $608,286 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Several research analysts have weighed in on PFS shares. ValuEngine upgraded Provident Financial Services from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday, November 1st. Sandler O’Neill upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Friday, January 26th. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a research note on Monday, January 29th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $28.00 price target on shares of Provident Financial Services in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Provident Financial Services has a consensus rating of “Hold” and an average target price of $28.42.

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Provident Financial Services Company Profile

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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