Brokerages predict that Provident Financial Services, Inc (NYSE:PFS) will post $85.36 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Provident Financial Services’ earnings, with the lowest sales estimate coming in at $85.21 million and the highest estimate coming in at $85.51 million. Provident Financial Services posted sales of $81.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The firm is expected to report its next earnings results on Friday, January 26th.

According to Zacks, analysts expect that Provident Financial Services will report full year sales of $85.36 million for the current financial year, with estimates ranging from $333.91 million to $334.21 million. For the next year, analysts anticipate that the company will report sales of $351.60 million per share, with estimates ranging from $348.60 million to $354.61 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Provident Financial Services.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings data on Friday, October 27th. The savings and loans company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. Provident Financial Services had a net margin of 25.90% and a return on equity of 7.61%. The firm had revenue of $85.32 million for the quarter, compared to the consensus estimate of $83.84 million. During the same period in the previous year, the firm posted $0.36 earnings per share.

A number of research analysts recently commented on PFS shares. DA Davidson started coverage on shares of Provident Financial Services in a research report on Friday, September 1st. They set a “neutral” rating and a $25.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $30.00 price objective on shares of Provident Financial Services in a research report on Friday, September 8th. Zacks Investment Research downgraded shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a research report on Friday, October 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $28.50 price objective on shares of Provident Financial Services in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.80.

Provident Financial Services (PFS) opened at $27.00 on Friday. Provident Financial Services has a 1 year low of $23.19 and a 1 year high of $28.92. The company has a market cap of $1,860.04, a P/E ratio of 18.53, a P/E/G ratio of 1.81 and a beta of 0.97. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.19.

The firm also recently announced a special dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a $0.15 dividend. This represents a yield of 3.01%. The ex-dividend date is Thursday, December 7th. Provident Financial Services’s dividend payout ratio is 52.98%.

In other Provident Financial Services news, Director Frank L. Fekete sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.33, for a total value of $245,970.00. Following the completion of the sale, the director now directly owns 48,903 shares of the company’s stock, valued at $1,336,518.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura L. Brooks sold 4,075 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $25.99, for a total transaction of $105,909.25. Following the completion of the sale, the director now directly owns 62,905 shares of the company’s stock, valued at $1,634,900.95. The disclosure for this sale can be found here. Insiders sold 25,175 shares of company stock valued at $690,186 over the last three months. Insiders own 2.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PFS. Aperio Group LLC bought a new stake in Provident Financial Services in the second quarter worth approximately $392,000. Strs Ohio grew its position in Provident Financial Services by 5.1% in the second quarter. Strs Ohio now owns 41,500 shares of the savings and loans company’s stock worth $1,053,000 after acquiring an additional 2,000 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in Provident Financial Services by 4.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,280 shares of the savings and loans company’s stock worth $362,000 after acquiring an additional 650 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Provident Financial Services by 3.4% in the second quarter. Great West Life Assurance Co. Can now owns 87,262 shares of the savings and loans company’s stock worth $2,213,000 after acquiring an additional 2,900 shares in the last quarter. Finally, Texas Permanent School Fund grew its position in Provident Financial Services by 1.2% in the second quarter. Texas Permanent School Fund now owns 44,301 shares of the savings and loans company’s stock worth $1,124,000 after acquiring an additional 521 shares in the last quarter. 63.97% of the stock is owned by institutional investors.

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About Provident Financial Services

Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.

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Earnings History and Estimates for Provident Financial Services (NYSE:PFS)

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