Wall Street brokerages expect Provident Financial Services, Inc. (NYSE:PFS) to announce $0.47 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Provident Financial Services’ earnings, with estimates ranging from $0.45 to $0.48. Provident Financial Services posted earnings per share of $0.30 during the same quarter last year, which indicates a positive year-over-year growth rate of 56.7%. The company is expected to report its next quarterly earnings results on Friday, July 26th.
According to Zacks, analysts expect that Provident Financial Services will report full year earnings of $1.89 per share for the current financial year, with EPS estimates ranging from $1.88 to $1.92. For the next financial year, analysts expect that the business will report earnings of $1.93 per share, with EPS estimates ranging from $1.88 to $1.95. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Provident Financial Services.
Provident Financial Services (NYSE:PFS) last posted its earnings results on Friday, April 26th. The savings and loans company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. Provident Financial Services had a return on equity of 9.03% and a net margin of 28.66%. The business had revenue of $87.20 million during the quarter, compared to analysts’ expectations of $90.53 million. During the same period in the previous year, the business earned $0.43 earnings per share.
Several equities analysts recently commented on the company. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a research report on Friday, April 26th. Zacks Investment Research cut Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Provident Financial Services presently has an average rating of “Hold” and a consensus price target of $27.50.
Provident Financial Services stock traded down $0.29 during midday trading on Wednesday, hitting $25.12. 88,481 shares of the company’s stock were exchanged, compared to its average volume of 183,507. Provident Financial Services has a 52-week low of $22.22 and a 52-week high of $29.12. The company has a quick ratio of 1.08, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.69 and a beta of 0.55.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Tuesday, May 14th. Provident Financial Services’s payout ratio is currently 50.55%.
In other news, Director James P. Dunigan acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was purchased at an average cost of $27.30 per share, for a total transaction of $27,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian Giovinazzi sold 7,340 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $26.23, for a total value of $192,528.20. Following the completion of the transaction, the executive vice president now owns 97,263 shares of the company’s stock, valued at $2,551,208.49. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC purchased a new position in shares of Provident Financial Services in the 4th quarter worth about $274,000. Brinker Capital Inc. raised its position in Provident Financial Services by 64.3% during the 1st quarter. Brinker Capital Inc. now owns 20,596 shares of the savings and loans company’s stock valued at $533,000 after purchasing an additional 8,057 shares during the last quarter. Arizona State Retirement System raised its position in Provident Financial Services by 6.2% during the 4th quarter. Arizona State Retirement System now owns 94,681 shares of the savings and loans company’s stock valued at $2,285,000 after purchasing an additional 5,500 shares during the last quarter. 6 Meridian bought a new position in Provident Financial Services during the 1st quarter valued at approximately $488,000. Finally, Victory Capital Management Inc. raised its position in Provident Financial Services by 9.1% during the 4th quarter. Victory Capital Management Inc. now owns 73,076 shares of the savings and loans company’s stock valued at $1,763,000 after purchasing an additional 6,100 shares during the last quarter. Hedge funds and other institutional investors own 68.07% of the company’s stock.
Provident Financial Services Company Profile
Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking services to individuals, families, and businesses in the United States. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA, and KEOGH products.
See Also: Net Income
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