Provident Financial Services (PFS) Set to Announce Quarterly Earnings on Thursday
Provident Financial Services (NYSE:PFS) is scheduled to announce its earnings results before the market opens on Thursday, January 25th.
Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, October 27th. The savings and loans company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. Provident Financial Services had a return on equity of 7.61% and a net margin of 25.90%. The company had revenue of $85.32 million for the quarter, compared to analysts’ expectations of $83.84 million. During the same period last year, the firm earned $0.36 earnings per share. On average, analysts expect Provident Financial Services to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of Provident Financial Services (NYSE:PFS) opened at $27.79 on Thursday. Provident Financial Services has a 52 week low of $23.19 and a 52 week high of $28.76. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $1,863.36, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97.
In other news, EVP Donald W. Blum sold 6,100 shares of Provident Financial Services stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $28.47, for a total transaction of $173,667.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frank L. Fekete sold 9,000 shares of Provident Financial Services stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $27.33, for a total value of $245,970.00. Following the sale, the director now owns 48,903 shares in the company, valued at approximately $1,336,518.99. The disclosure for this sale can be found here. Insiders have sold 25,175 shares of company stock worth $690,186 in the last quarter. Insiders own 2.90% of the company’s stock.
A number of analysts have weighed in on PFS shares. ValuEngine upgraded Provident Financial Services from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday, November 1st. Piper Jaffray Companies restated a “hold” rating and issued a $28.00 price target on shares of Provident Financial Services in a research note on Tuesday, January 9th. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a research note on Friday, October 27th. Finally, Sandler O’Neill cut Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.30.
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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