Provident Financial Services (PFS) Set to Announce Quarterly Earnings on Thursday

Provident Financial Services (NYSE:PFS) will issue its quarterly earnings data after the market closes on Thursday, April 18th. Analysts expect the company to announce earnings of $0.40 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings data on Friday, January 26th. The savings and loans company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The company had revenue of $114.76 million during the quarter, compared to analyst estimates of $114.30 million. Provident Financial Services had a net margin of 18.46% and a return on equity of 7.88%. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. On average, analysts expect Provident Financial Services to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Provident Financial Services Stock Performance

NYSE PFS opened at $14.00 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 8.18 and a beta of 1.07. The stock has a fifty day simple moving average of $14.87 and a 200 day simple moving average of $15.69. Provident Financial Services has a twelve month low of $13.22 and a twelve month high of $19.62.

Provident Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.96 dividend on an annualized basis and a yield of 6.86%. Provident Financial Services’s dividend payout ratio (DPR) is currently 56.14%.

Analyst Ratings Changes

PFS has been the topic of a number of research analyst reports. DA Davidson cut their price target on shares of Provident Financial Services from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, March 28th. Keefe, Bruyette & Woods cut their price target on shares of Provident Financial Services from $20.00 to $17.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 26th. TheStreet cut shares of Provident Financial Services from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. Finally, Royal Bank of Canada cut their price objective on shares of Provident Financial Services from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.50.

Insider Transactions at Provident Financial Services

In other news, Director Robert Mcnerney sold 5,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $17.86, for a total transaction of $89,300.00. Following the transaction, the director now owns 9,475 shares of the company’s stock, valued at approximately $169,223.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.44% of the company’s stock.

Hedge Funds Weigh In On Provident Financial Services

Several large investors have recently added to or reduced their stakes in PFS. Federated Hermes Inc. increased its stake in Provident Financial Services by 132.8% in the 3rd quarter. Federated Hermes Inc. now owns 1,867 shares of the savings and loans company’s stock valued at $36,000 after buying an additional 1,065 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in Provident Financial Services by 35.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,785 shares of the savings and loans company’s stock valued at $42,000 after buying an additional 470 shares during the last quarter. Point72 Europe London LLP purchased a new stake in Provident Financial Services in the 4th quarter valued at about $43,000. Point72 Middle East FZE purchased a new stake in Provident Financial Services in the 4th quarter valued at about $43,000. Finally, First Manhattan Co. increased its stake in Provident Financial Services by 106.8% in the 4th quarter. First Manhattan Co. now owns 2,130 shares of the savings and loans company’s stock valued at $45,000 after buying an additional 1,100 shares during the last quarter. Institutional investors own 71.97% of the company’s stock.

Provident Financial Services Company Profile

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.