Analysts expect Provident Financial Services, Inc. (NYSE:PFS) to announce $0.45 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Provident Financial Services’ earnings. The highest EPS estimate is $0.46 and the lowest is $0.44. Provident Financial Services posted earnings per share of $0.38 during the same quarter last year, which indicates a positive year over year growth rate of 18.4%. The company is scheduled to report its next earnings report on Friday, July 27th.
According to Zacks, analysts expect that Provident Financial Services will report full year earnings of $1.83 per share for the current financial year, with EPS estimates ranging from $1.80 to $1.85. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.94 per share, with EPS estimates ranging from $1.90 to $1.99. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Provident Financial Services.
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Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, April 27th. The savings and loans company reported $0.43 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.43. The business had revenue of $86.58 million during the quarter, compared to analyst estimates of $86.38 million. Provident Financial Services had a net margin of 25.30% and a return on equity of 7.89%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 earnings per share.
PFS has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Provident Financial Services from a “hold” rating to a “sell” rating in a report on Thursday, March 29th. ValuEngine raised shares of Provident Financial Services from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.42.
Shares of Provident Financial Services traded up $0.20, hitting $28.30, during mid-day trading on Wednesday, MarketBeat.com reports. The company had a trading volume of 121,800 shares, compared to its average volume of 154,044. Provident Financial Services has a 52-week low of $23.26 and a 52-week high of $29.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $1.88 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 1.92 and a beta of 0.95.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 31st. Stockholders of record on Tuesday, May 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Monday, May 14th. Provident Financial Services’s dividend payout ratio is currently 52.63%.
In other news, Director Carlos Hernandez sold 3,600 shares of the stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $27.93, for a total value of $100,548.00. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. M3F Inc. bought a new position in shares of Provident Financial Services in the fourth quarter worth about $4,133,000. Ramsey Quantitative Systems bought a new position in shares of Provident Financial Services in the fourth quarter worth about $240,000. Millennium Management LLC grew its holdings in shares of Provident Financial Services by 69.5% in the fourth quarter. Millennium Management LLC now owns 343,518 shares of the savings and loans company’s stock worth $9,265,000 after purchasing an additional 140,816 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Provident Financial Services by 3.8% in the fourth quarter. BlackRock Inc. now owns 8,069,971 shares of the savings and loans company’s stock worth $217,648,000 after purchasing an additional 294,452 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Provident Financial Services by 147.3% in the fourth quarter. First Trust Advisors LP now owns 56,044 shares of the savings and loans company’s stock worth $1,512,000 after purchasing an additional 33,385 shares during the last quarter. Hedge funds and other institutional investors own 64.43% 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. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA and KEOGH accounts.
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