Provident Financial Services, Inc (NYSE:PFS) Plans Quarterly Dividend of $0.24

Provident Financial Services, Inc (NYSE:PFS) announced a quarterly dividend on Thursday, July 30th. Investors of record on Friday, August 14th will be given a dividend of 0.24 per share by the savings and loans company on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, August 14th.

Provident Financial Services has increased 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. 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 Trading Up 3.3%

NYSE:PFS opened at $24.86 on Friday. The stock has a market capitalization of $3.24 billion, a PE ratio of 10.36 and a beta of 0.78. The firm’s 50 day moving average is $23.22 and its 200 day moving average is $22.27. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.03. Provident Financial Services has a 12 month low of $17.61 and a 12 month high of $25.41.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Thursday, July 30th. The savings and loans company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. The company had revenue of $234.96 million during the quarter, compared to the consensus estimate of $225.57 million. Provident Financial Services had a return on equity of 11.09% and a net margin of 22.15%.During the same quarter in the prior year, the company earned $0.55 EPS. Sell-side analysts expect that Provident Financial Services will post 2.36 earnings per share for the current year.

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.