Provident Financial Services (NYSE:PFS – Get Rating) will announce its results before market open on Friday, July 29. Analysts expect the company to report earnings of $0.52 per share for the quarter. Investors wishing to participate in the company’s conference call can do so using this link.
Provident Financial Services (NYSE:PFS – Get Rating) last released its results on Friday, April 29. The savings and loan company reported earnings per share of $0.58 for the quarter, beating the consensus estimate of $0.47 by $0.11. The company posted revenue of $114.67 million for the quarter, versus a consensus estimate of $115.10 million. Provident Financial Services achieved a return on equity of 9.79% and a net margin of 33.46%. In the same quarter a year earlier, the company posted EPS of $0.63. On average, analysts expect Provident Financial Services to post EPS of $2 for the current fiscal year and EPS of $2 for the next fiscal year.
Performance of Provident Financial Services shares
Shares of Provident Financial Services opened at $23.22 on Friday. The stock’s fifty-day moving average is $22.44 and its two-hundred-day moving average is $23.15. The company has a market capitalization of $1.75 billion, a PE ratio of 10.85 and a beta of 0.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a leverage ratio of 0.28. Provident Financial Services has a 52-week low of $20.92 and a 52-week high of $26.20.
Provident Financial Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.24. This represents an annualized dividend of $0.96 and a yield of 4.13%. The ex-dividend date was Thursday, May 12. Provident Financial Services’ dividend payout ratio (DPR) is currently 44.86%.
Insider Buying and Selling at Provident Financial Services
In other news from Provident Financial Services, CEO George Lista sold 3,000 shares of the company in a trade on Tuesday, May 17. The stock was sold at an average price of $22.15, for a total value of $66,450.00. As a result of the transaction, the CEO now owns 103,873 shares of the company, valued at approximately $2,300,786.95. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. In other news, Executive Vice President Valerie O. Murray bought 1,400 shares in a trade on Tuesday, June 14. The shares were acquired at an average cost of $21.62 per share, for a total transaction of $30,268.00. Following the acquisition, the executive vice president now owns 39,683 shares of the company, valued at $857,946.46. The acquisition was disclosed in a filing with the SEC, available on the SEC’s website. Additionally, CEO George Lista sold 3,000 shares of the company in a trade on Tuesday, May 17. The stock was sold at an average price of $22.15, for a total value of $66,450.00. Following the completion of the sale, the CEO now owns 103,873 shares of the company, valued at $2,300,786.95. The disclosure of this sale can be found here. 4.26% of the shares are currently held by company insiders.
Institutional investors weigh on pension financial services
Several hedge funds have recently changed their positions in the company. Advisor Group Holdings Inc. increased its equity stake in Provident Financial Services by 35.7% in Q1. Advisor Group Holdings Inc. now owns 1,785 shares of the savings and loan company worth $42,000 after purchasing an additional 470 shares during the period. Great West Life Assurance Co. Can increased its holdings of Provident Financial Services shares by 2.6% in Q1. Great West Life Assurance Co. Can now owns 69,376 shares of the savings and loans company worth $1,665,000 after purchasing an additional 1,750 shares during the period. Raymond James Financial Services Advisors Inc. increased its holding in shares of Provident Financial Services by 19.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 12,296 shares of the savings and loan company worth $288,000 after purchasing an additional 1,986 shares during the period. Mariner LLC increased its equity stake in Provident Financial Services by 15.3% in Q1. Mariner LLC now owns 16,068 shares of the savings and loan company worth $376,000 after purchasing 2,129 additional shares during the period. Finally, Captrust Financial Advisors increased its stake in shares of Provident Financial Services by 15.5% in the 1st quarter. Captrust Financial Advisors now owns 16,305 shares of the savings and loan company worth $382,000 after buying 2,188 additional shares during the period. 63.82% of the shares are currently held by hedge funds and other institutional investors.
Wall Street analysts predict growth
Separately, StockNews.com began covering provident financial services in a research report on Thursday, March 31. They issued a “holding” rating on the stock.
Provident financial services company profile
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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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