Provident Financial Services, Inc (NYSE:PFS) Stock to Pay Quarterly Dividend of $0.24

Provident Financial Services, Inc (NYSE:PFS) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.24 per share by the savings and loans company on Friday, November 27th. This represents a $0.96 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, November 13th.

Provident Financial Services has a payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Provident Financial Services to earn $2.58 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 37.2%.

Provident Financial Services Trading Up 0.4%

Shares of PFS stock opened at $23.20 on Friday. Provident Financial Services has a 1 year low of $17.70 and a 1 year high of $25.49. The firm’s fifty day simple moving average is $22.89 and its 200 day simple moving average is $22.60. The firm has a market capitalization of $3.03 billion, a P/E ratio of 9.71 and a beta of 0.83. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.99.

Provident Financial Services (NYSE:PFS) last released its earnings results on Thursday, October 29th. The savings and loans company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. Provident Financial Services had a net margin of 21.73% and a return on equity of 10.81%. The firm had revenue of $238.53 million during the quarter, compared to analysts’ expectations of $235.31 million. During the same period in the prior year, the company earned $0.55 EPS. As a group, sell-side analysts predict that Provident Financial Services will post 2.44 EPS for the current year.

Provident Financial Services Company Profile

Provident Financial Services, Inc is the parent company of Provident Bank, a full-service community and commercial bank serving individuals, businesses and organizations. The bank provides checking and savings accounts, certificates of deposit, treasury management and other deposit products, along with residential mortgage, commercial real estate, commercial business and consumer lending.

Through its banking and wealth-management operations, Provident offers services that may include investment management, trust and fiduciary services, financial planning and insurance solutions.