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Operations: Independent Bank Corp.'s revenue from its Community Banking segment is $655.49 million.

Dividend Yield: 3.2%

Independent Bank's dividend yield of 3.18% is supported by a low payout ratio of 49.1%, ensuring dividends are well covered by earnings and projected to remain so in three years (38.9%). The bank's dividends have been stable and reliable over the past decade, though its current yield is below the top tier in the US market. Despite recent declines in net income and EPS, Independent Bank continues to seek M&A opportunities as part of its growth strategy.

• Dive into the specifics of Independent Bank here with our thorough dividend report.

• The valuation report we've compiled suggests that Independent Bank's current price could be quite moderate.

Provident Financial Services

Simply Wall St Dividend Rating: ★★★★★☆

Overview: Provident Financial Services, Inc. is a bank holding company for Provident Bank, offering a range of banking products and services to individuals, families, and businesses in the United States, with a market cap of approximately $2.71 billion.

Operations: Provident Financial Services, Inc. generates revenue primarily through its Traditional Banking and Other Financial Services segment, which amounted to $526.01 million.

Dividend Yield: 4.6%

Provident Financial Services offers a dividend yield of 4.62%, ranking in the top 25% of US dividend payers, but its high payout ratio of 97.6% raises concerns about sustainability. While dividends have grown reliably over the past decade, current earnings do not cover them, and future coverage is uncertain despite forecasts suggesting improved earnings growth. Recent financials reveal increased net interest income and net loan charge-offs, alongside substantial insider selling and shareholder dilution.

• Get an in-depth perspective on Provident Financial Services' performance by reading our dividend report here.

• In light of our recent valuation report, it seems possible that Provident Financial Services is trading beyond its estimated value.

Where To Now?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include NasdaqGS:FRME NasdaqGS:INDB and NYSE:PFS.

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