Zacks: Brokerages Anticipate Provident Financial Services, Inc. (NYSE:PFS) to Announce $0.47 EPS

Wall Street brokerages predict that Provident Financial Services, Inc. (NYSE:PFSGet Rating) will report earnings per share (EPS) of $0.47 for the current fiscal 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 per share of $0.63 during the same quarter last year, which indicates a negative year over year growth rate of 25.4%. The business is expected to issue its next 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 financial year, with EPS estimates ranging from $1.90 to $2.10. For the next financial year, analysts expect that the company will report earnings of $2.19 per share, with EPS estimates ranging from $2.05 to $2.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Provident Financial Services.

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

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

Provident Financial Services stock opened at $22.13 on Wednesday. Provident Financial Services has a 12-month low of $20.86 and a 12-month high of $26.20. The stock has a market capitalization of $1.70 billion, a P/E ratio of 10.11 and a beta of 0.94. The firm’s 50-day moving average is $23.07 and its two-hundred day moving average is $24.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.91 and a quick ratio of 0.91.

The business also recently announced a quarterly dividend, which was paid on Friday, February 25th. Investors of record on Friday, February 11th were given a $0.24 dividend. The ex-dividend date was Thursday, February 10th. This represents a $0.96 annualized dividend and a dividend yield of 4.34%. Provident Financial Services’s dividend payout ratio is presently 43.84%.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of PFS. SG Americas Securities LLC purchased a new position in Provident Financial Services in the third quarter valued at approximately $146,000. CIBC Asset Management Inc purchased a new position in Provident Financial Services in the third quarter valued at approximately $207,000. Raymond James Financial Services Advisors Inc. purchased a new position in Provident Financial Services in the third quarter valued at approximately $230,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Provident Financial Services during the third quarter valued at approximately $232,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Provident Financial Services by 28.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,638 shares of the savings and loans company’s stock valued at $249,000 after purchasing an additional 2,324 shares during the period. Hedge funds and other institutional investors own 61.44% of the company’s stock.

Provident Financial Services Company Profile (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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