Analysts Expect Provident Financial Services, Inc. (PFS) Will Post Earnings of $0.44 Per Share

Wall Street analysts expect Provident Financial Services, Inc. (NYSE:PFS) to post earnings per share (EPS) of $0.44 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Provident Financial Services’ earnings. The lowest EPS estimate is $0.43 and the highest is $0.45. Provident Financial Services reported earnings of $0.37 per share in the same quarter last year, which would indicate a positive year over year growth rate of 18.9%. The business is scheduled to announce its next quarterly earnings report on Friday, April 27th.

On average, analysts expect that Provident Financial Services will report full year earnings of $1.75 per share for the current fiscal year, with EPS estimates ranging from $1.62 to $1.87. For the next financial year, analysts forecast that the business will post earnings of $1.83 per share, with EPS estimates ranging from $1.66 to $1.96. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Provident Financial Services.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings results on Friday, January 26th. The savings and loans company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). The company had revenue of $85.20 million during the quarter, compared to the consensus estimate of $85.36 million. Provident Financial Services had a return on equity of 7.61% and a net margin of 24.75%. During the same period in the previous year, the company earned $0.35 EPS.

A number of equities analysts have recently commented on PFS shares. Sandler O’Neill lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $28.00 target price on shares of Provident Financial Services in a report on Tuesday, January 9th. ValuEngine raised shares of Provident Financial Services from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Provident Financial Services presently has a consensus rating of “Hold” and an average price target of $28.42.

Provident Financial Services (NYSE PFS) opened at $25.53 on Wednesday. The company has a market cap of $1,700.00, a price-to-earnings ratio of 17.61, a PEG ratio of 1.84 and a beta of 0.94. Provident Financial Services has a twelve month low of $23.19 and a twelve month high of $28.76. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 1.36.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Wednesday, February 14th. Provident Financial Services’s dividend payout ratio is currently 55.17%.

In other Provident Financial Services news, Director Carlos Hernandez sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $27.58, for a total value of $82,740.00. Following the sale, the director now owns 81,958 shares of the company’s stock, valued at approximately $2,260,401.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donald W. Blum sold 6,100 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $28.47, for a total transaction of $173,667.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,100 shares of company stock worth $502,377. 2.90% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Provident Financial Services by 3.8% in the 4th quarter. BlackRock Inc. now owns 8,069,971 shares of the savings and loans company’s stock worth $217,648,000 after acquiring an additional 294,452 shares during the last quarter. Vanguard Group Inc. grew its holdings in Provident Financial Services by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,593,194 shares of the savings and loans company’s stock worth $141,955,000 after acquiring an additional 44,502 shares during the last quarter. State Street Corp grew its holdings in Provident Financial Services by 4.1% in the 2nd quarter. State Street Corp now owns 1,533,692 shares of the savings and loans company’s stock worth $38,931,000 after acquiring an additional 60,670 shares during the last quarter. Beacon Investment Advisory Services Inc. bought a new stake in Provident Financial Services in the 3rd quarter worth $30,934,000. Finally, Renaissance Technologies LLC grew its holdings in Provident Financial Services by 4.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,106,900 shares of the savings and loans company’s stock worth $29,853,000 after acquiring an additional 46,900 shares during the last quarter. 63.68% of the stock is currently owned by institutional investors and hedge funds.

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Provident Financial Services Company Profile

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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