Provident Financial Services, Inc. (NYSE:PFS) Expected to Announce Earnings of $0.47 Per Share

Brokerages expect Provident Financial Services, Inc. (NYSE:PFSGet Rating) to announce earnings of $0.47 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Provident Financial Services’ earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.49. Provident Financial Services reported earnings of $0.63 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 25.4%. The company is scheduled to announce its next quarterly earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Provident Financial Services will report full year earnings of $2.01 per share for the current year, with EPS estimates ranging from $1.90 to $2.10. For the next fiscal year, analysts expect that the firm will post earnings of $2.19 per share, with EPS estimates ranging from $2.05 to $2.35. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Provident Financial Services.

Provident Financial Services (NYSE:PFSGet Rating) last posted its quarterly earnings data on Friday, January 28th. The savings and loans company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.03. The firm had revenue of $114.54 million for the quarter, compared to the consensus estimate of $115.16 million. Provident Financial Services had a net margin of 34.33% and a return on equity of 10.02%. During the same period in the previous year, the firm earned $0.53 EPS.

A number of equities analysts have issued reports on PFS shares. StockNews.com started coverage on shares of Provident Financial Services in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised shares of Provident Financial Services from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Wednesday, February 2nd.

In related news, Director John Pugliese sold 10,000 shares of the business’s stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $24.15, for a total value of $241,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James A. Christy sold 3,000 shares of the business’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $23.53, for a total value of $70,590.00. The disclosure for this sale can be found here. 4.26% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in PFS. SG Americas Securities LLC bought a new stake in Provident Financial Services in the 3rd quarter valued at about $146,000. CIBC Asset Management Inc bought a new stake in shares of Provident Financial Services during the third quarter valued at about $207,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Provident Financial Services during the third quarter valued at about $230,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Provident Financial Services during the third quarter valued at about $232,000. Finally, Natixis Advisors L.P. bought a new stake in shares of Provident Financial Services during the fourth quarter valued at about $261,000. Institutional investors and hedge funds own 61.44% of the company’s stock.

PFS traded up $0.04 during mid-day trading on Wednesday, reaching $22.19. 8,423 shares of the stock were exchanged, compared to its average volume of 366,484. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $1.71 billion, a PE ratio of 10.11 and a beta of 0.94. The company has a 50 day moving average price of $23.56 and a two-hundred day moving average price of $24.20. Provident Financial Services has a 1 year low of $20.86 and a 1 year high of $26.20.

The business also recently declared a quarterly dividend, which was paid on Friday, February 25th. Investors of record on Friday, February 11th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Thursday, February 10th. Provident Financial Services’s dividend payout ratio (DPR) is currently 43.84%.

About Provident Financial Services (Get Rating)

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. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.

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Earnings History and Estimates for Provident Financial Services (NYSE:PFS)

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