Provident Financial Services, Inc (NYSE:PFS) declared a special dividend on Friday, November 17th, Wall Street Journal reports. Investors of record on Friday, December 8th will be given a dividend of 0.15 per share by the savings and loans company on Friday, December 22nd. This represents a yield of 3.01%. The ex-dividend date is Thursday, December 7th.
Provident Financial Services has increased its dividend payment by an average of 8.2% per year over the last three years and has raised its dividend every year for the last 6 years. Provident Financial Services has a dividend payout ratio of 51.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Provident Financial Services to earn $1.61 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 49.7%.
Provident Financial Services (PFS) traded down $0.03 during mid-day trading on Friday, reaching $26.55. 433,975 shares of the company traded hands, compared to its average volume of 186,695. The firm has a market capitalization of $1,770.00, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.69 and a beta of 0.98. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.19. Provident Financial Services has a 1-year low of $23.19 and a 1-year high of $28.92.
Provident Financial Services (NYSE:PFS) last released its earnings results on Friday, October 27th. The savings and loans company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The business had revenue of $85.32 million for the quarter, compared to analyst estimates of $83.84 million. Provident Financial Services had a net margin of 25.90% and a return on equity of 7.61%. During the same quarter in the previous year, the business earned $0.36 earnings per share. equities analysts anticipate that Provident Financial Services will post 1.54 earnings per share for the current year.
PFS has been the topic of several recent analyst reports. Royal Bank Of Canada restated a “buy” rating and issued a $30.00 target price on shares of Provident Financial Services in a report on Friday, September 8th. DA Davidson began coverage on shares of Provident Financial Services in a research note on Friday, September 1st. They issued a “neutral” rating and a $25.00 price target for the company. Zacks Investment Research downgraded shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a research note on Friday, October 27th. Finally, BidaskClub downgraded shares of Provident Financial Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $27.80.
In other Provident Financial Services news, Director Laura L. Brooks sold 4,075 shares of Provident Financial Services stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $25.99, for a total value of $105,909.25. Following the completion of the sale, the director now directly owns 62,905 shares of the company’s stock, valued at $1,634,900.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Edward Odonnell sold 3,000 shares of Provident Financial Services stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $27.30, for a total transaction of $81,900.00. Following the completion of the sale, the director now directly owns 91,335 shares of the company’s stock, valued at $2,493,445.50. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
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.
Receive News & Ratings for Provident Financial Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.