Provident Financial Services, Inc. (NYSE:PFS) to post earnings of $0.51 per share in the second quarter of 2022, according to DA Davidson forecast


Provident Financial Services, Inc. (NYSE:PFS – Get Rating) – Analysts at DA Davidson released their second quarter 2022 EPS estimates for Provident Financial Services stock in a research note to investors on Tuesday, May 3. DA Davidson analyst R. Gunther expects the savings and loan company to earn $0.51 per share for the quarter. DA Davidson also released earnings estimates for Provident Financial Services for fiscal year 2022 at $2.23 EPS.

A number of other research firms have also weighed in on PFS recently. StockNews.com began covering Provident Financial Services stocks in a research report on Thursday, March 31. They issued a “holding” rating for the company. Zacks Investment Research moved shares of 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.

NYSE:PFS shares opened at $22.17 on Wednesday. Provident Financial Services has a 12-month low of $20.86 and a 12-month high of $26.20. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt ratio of 0.28. The company’s fifty-day simple moving average is $23.00 and its 200-day simple moving average is $23.97. The company has a market capitalization of $1.71 billion, a price-earnings ratio of 10.36 and a beta of 0.91.

Provident Financial Services (NYSE:PFS – Get Rating) last announced its quarterly results on Friday, April 29. The savings and loans company reported EPS of $0.58 for the quarter, beating consensus analyst estimates of $0.46 by $0.12. Provident Financial Services achieved a return on equity of 9.79% and a net margin of 33.46%. During the same period a year earlier, the company posted earnings per share of $0.63.

Hedge funds and other institutional investors have recently changed their stakes in the company. Jackson Creek Investment Advisors LLC increased its stake in Provident Financial Services by 6.5% in Q1. Jackson Creek Investment Advisors LLC now owns 50,376 shares of the savings and loan company worth $1,179,000 after purchasing 3,087 additional shares during the period. Zurcher Kantonalbank Zurcher Kantonalbank increased its stake in the shares of Provident Financial Services by 28.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,638 shares in the savings and loan company worth $249,000 after buying 2,324 more shares in the last quarter. Denali Advisors LLC increased its stake in Provident Financial Services by 28.8% in the first quarter. Denali Advisors LLC now owns 167,200 shares of the savings and loan company worth $3,912,000 after buying 37,400 additional shares in the last quarter. Everence Capital Management Inc. increased its position in Provident Financial Services by 52.3% in the 1st quarter. Everence Capital Management Inc. now owns 14,360 shares of the savings and loan company valued at $336,000 after acquiring 4,930 additional shares in the last quarter. Finally, Norges Bank purchased a new stake in the shares of Provident Financial Services during the fourth quarter at a value of $19,561,000. Institutional investors and hedge funds own 63.82% of the company’s shares.

In other news, director John Pugliese sold 10,000 shares of the company in a trade on Monday, February 7. The stock was sold at an average price of $24.15, for a total transaction of $241,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, Executive Vice President James A. Christy sold 3,000 shares of the company in a trade on Friday, March 11. The shares were sold at an average price of $23.53, for a total value of $70,590.00. The disclosure of this sale can be found here. 4.26% of the shares are held by insiders of the company.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 27. Investors of record on Friday, May 13 will receive a dividend of $0.24 per share. This represents an annualized dividend of $0.96 and a dividend yield of 4.33%. The ex-dividend date is Thursday, May 12. Provident Financial Services’ dividend payout ratio (DPR) is 44.86%.

About pension financial services (Get a rating)

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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