Equities research analysts predict that Provident Financial Services, Inc. (NYSE:PFS – Get Rating) will report sales of $115.07 million for the current quarter, according to Zacks. Three analysts have made estimates for Provident Financial Services’ earnings, with the highest sales estimate coming in at $115.80 million and the lowest estimate coming in at $113.70 million. Provident Financial Services reported sales of $111.64 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The firm is expected to announce its next earnings report before the market opens on Monday, January 1st.
On average, analysts expect that Provident Financial Services will report full year sales of $474.50 million for the current year, with estimates ranging from $472.60 million to $475.80 million. For the next financial year, analysts expect that the business will post sales of $504.50 million, with estimates ranging from $499.70 million to $510.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Provident Financial Services.
Provident Financial Services (NYSE:PFS – Get Rating) last posted its quarterly earnings results on Friday, January 28th. The savings and loans company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.03. Provident Financial Services had a net margin of 34.33% and a return on equity of 10.02%. The business had revenue of $114.54 million during the quarter, compared to analyst estimates of $115.16 million. During the same period in the previous year, the business posted $0.53 EPS.
PFS has been the subject of several research reports. Zacks Investment Research raised shares of Provident Financial Services from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Wednesday, February 2nd. StockNews.com assumed coverage on shares of Provident Financial Services in a report on Thursday, March 31st. They issued a “hold” rating for the company.
In other Provident Financial Services news, Director John Pugliese sold 10,000 shares of the business’s stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $24.15, for a total transaction of $241,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James A. Christy sold 3,000 shares of the business’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $23.53, for a total transaction of $70,590.00. The disclosure for this sale can be found here. Insiders own 4.26% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Provident Financial Services during the 3rd quarter worth about $146,000. CIBC Asset Management Inc bought a new stake in shares of Provident Financial Services during the 3rd quarter worth about $207,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Provident Financial Services during the 3rd quarter worth about $230,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Provident Financial Services during the 3rd quarter worth about $232,000. Finally, Natixis Advisors LP bought a new stake in shares of Provident Financial Services during the 4th quarter worth about $261,000. Institutional investors own 61.44% of the company’s stock.
NYSE PFS opened at $22.46 on Friday. Provident Financial Services has a one year low of $20.86 and a one year high of $26.20. The company has a 50-day simple moving average of $23.60 and a 200-day simple moving average of $24.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $1.73 billion, a PE ratio of 10.26 and a beta of 0.94.
The company also recently announced a quarterly dividend, which was paid on Friday, February 25th. Shareholders of record on Friday, February 11th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Thursday, February 10th. Provident Financial Services’s payout ratio is 43.84%.
Provident Financial Services Company Profile (Get Rating)
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. The company’s deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.
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