Provident Financial Services, Inc. (NYSE:PFS – Get Free Report) announced a quarterly dividend on Thursday, April 18th, Zacks reports. Stockholders of record on Monday, April 29th will be given a dividend of 0.24 per share by the savings and loans company on Friday, May 31st. This represents a $0.96 annualized dividend and a dividend yield of 6.18%. The ex-dividend date of this dividend is Friday, April 26th.
Provident Financial Services has increased its dividend payment by an average of 1.4% annually over the last three years. Provident Financial Services has a dividend payout ratio of 45.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Provident Financial Services to earn $2.04 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 47.1%.
Provident Financial Services Stock Performance
Shares of PFS stock opened at $15.54 on Thursday. The stock has a fifty day moving average price of $14.75 and a 200 day moving average price of $15.66. The stock has a market cap of $1.17 billion, a PE ratio of 9.71 and a beta of 1.07. Provident Financial Services has a 1 year low of $13.21 and a 1 year high of $19.62. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.07 and a current ratio of 1.08.
Insider Activity
In other news, Director Robert Mcnerney sold 5,000 shares of Provident Financial Services stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $17.86, for a total value of $89,300.00. Following the completion of the sale, the director now owns 9,475 shares of the company’s stock, valued at $169,223.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.29% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on Provident Financial Services from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday. DA Davidson raised Provident Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $20.00 in a report on Monday. StockNews.com raised Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet downgraded Provident Financial Services from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods dropped their price target on Provident Financial Services from $20.00 to $17.00 and set a “market perform” rating for the company in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Provident Financial Services has a consensus rating of “Moderate Buy” and an average target price of $19.00.
View Our Latest Research Report on PFS
About Provident Financial Services
Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.
Recommended Stories
- Five stocks we like better than Provident Financial Services
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Nucor Stock Earnings Riding the Steel Industry Wave
- What is MarketRank™? How to Use it
- Simpson Manufacturing: Buy This Future Dividend King While Down
- How to Evaluate a Stock Before Buying
- Is Boeing Stock About to Soar Higher?
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.