Provident Financial Services, Inc. (NYSE:PFS) announced a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Investors of record on Friday, August 14th will be given a dividend of 0.23 per share by the savings and loans company on Friday, August 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date of this dividend is Thursday, August 13th.
Provident Financial Services has raised its dividend by an average of 29.6% annually over the last three years and has increased its dividend annually for the last 9 consecutive years. Provident Financial Services has a payout ratio of 81.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Provident Financial Services to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 59.4%.
Provident Financial Services stock opened at $13.65 on Friday. Provident Financial Services has a 52 week low of $9.05 and a 52 week high of $25.86. The business has a 50-day simple moving average of $13.65 and a 200 day simple moving average of $16.13. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.86. The stock has a market cap of $899.67 million, a price-to-earnings ratio of 10.19 and a beta of 1.01.
Provident Financial Services (NYSE:PFS) last posted its earnings results on Thursday, July 30th. The savings and loans company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.07. Provident Financial Services had a return on equity of 6.15% and a net margin of 20.60%. The business had revenue of $84.19 million during the quarter, compared to analysts’ expectations of $86.27 million. During the same period in the previous year, the business earned $0.38 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. On average, research analysts anticipate that Provident Financial Services will post 0.88 earnings per share for the current year.
Several research firms recently commented on PFS. ValuEngine upgraded Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Zacks Investment Research cut Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th.
About Provident Financial Services
Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking services to individuals, families, and businesses in the United States. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA, and KEOGH products.
Further Reading: What is the significance of the death cross?
Receive News & Ratings for Provident Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.