Stock analysts expect Provident Financial Services, Inc. (NYSE:PFS – Get Rating) to report sales of $115.07 million for the current fiscal quarter, Zacks reports. Three analysts have made earnings estimates for Provident Financial Services, with estimates ranging from $113.70 million to $115.80 million. Provident Financial Services reported sales of $111.64 million in the same quarter last year, which would indicate a positive growth rate of 3.1% year over year. The company is expected to announce its next quarterly earnings report before the market opens on Monday, January 1.
On average, analysts expect Provident Financial Services to report revenue of $474.50 million for the current year, with estimates ranging from $472.60 to $475.80 million. For the next fiscal year, analysts expect the company to record sales of $504.50 million, with estimates ranging from $499.70 million to $510.10 million. Zacks sales calculations are an average based on a survey of sell-side research firms that provide coverage for Provident Financial Services.
Provident Financial Services (NYSE:PFS – Get Rating) last released its quarterly results on Friday, January 28. The savings and loan company reported EPS of $0.49 for the quarter, beating Thomson Reuters consensus estimate of $0.46 by $0.03. Provident Financial Services achieved a return on equity of 10.02% and a net margin of 34.33%. The company posted revenue of $114.54 million in the quarter, compared to $115.16 million expected by analysts. In the same period a year earlier, the company had earned earnings per share of $0.53.
PFS has been the subject of several research reports. StockNews.com launched coverage on Provident Financial Services in a research report on Thursday, March 31. They set a “hold” rating for the company. Zacks Investment Research upgraded Provident Financial Services from a “hold” rating to a “strong-buy” rating and set a target price of $28.00 for the company in a Wednesday, February 2, report.
Shares of PFS opened at $22.06 on Friday. The company has a debt ratio of 0.40, a quick ratio of 0.91 and a current ratio of 0.91. Provident Financial Services has a one-year minimum of $20.86 and a one-year maximum of $26.20. The stock has a market capitalization of $1.70 billion, a price-earnings ratio of 10.07 and a beta of 0.94. The stock has a 50-day moving average price of $23.10 and a 200-day moving average price of $24.03.
The company also recently declared a quarterly dividend, which was paid on Friday, February 25. Shareholders of record on Friday, February 11 received a dividend of $0.24 per share. This represents a dividend of $0.96 on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Thursday, February 10. Provident Financial Services’ dividend payout ratio is currently 43.84%.
Separately, Executive Vice President James A. Christy sold 3,000 shares in a trade dated Friday, March 11. The stock was sold at an average price of $23.53, for a total transaction of $70,590.00. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, manager John Pugliese sold 10,000 shares in a trade dated Monday, February 7. The stock was sold at an average price of $24.15, for a total value of $241,500.00. The disclosure of this sale can be found here. Company insiders own 4.26% of the company’s shares.
Several institutional investors and hedge funds have recently increased or reduced their stake in PFS. SG Americas Securities LLC acquired a new position in Provident Financial Services during Q3 for a value of approximately $146,000. CIBC Asset Management Inc. acquired a new position in shares of Provident Financial Services in the third quarter worth $207,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Provident Financial Services in the third quarter worth $230,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Provident Financial Services in the third quarter worth $232,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its equity stake in Provident Financial Services by 28.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,638 shares of the savings and loan company worth $249,000 after acquiring 2,324 more shares in the last quarter. Institutional investors and hedge funds own 61.44% of the company’s shares.
About pension financial services (Get an assessment)
Provident Financial Services, Inc. operates as a bank holding company for Provident Bank which provides various personal, family and business banking products and services in the United States. The Company’s deposit products include savings, checks, interest-bearing checks, money market deposits and certificates of deposit accounts, as well as IRA products.
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