Brokers expect Provident Financial Services, Inc. (NYSE:PFS – Get Rating) to report earnings per share (EPS) of $0.52 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Provident Financial Services’ earnings, with the highest EPS estimate at $0.53 and the lowest estimate at $0.51. Provident Financial Services reported earnings of $0.58 per share for the same quarter last year, indicating a negative growth rate of 10.3% year over year. The company is expected to release its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect Provident Financial Services to report full-year earnings per share for the current fiscal year of $2.20, with EPS estimates ranging from $2.17 to $2.24. For the next fiscal year, analysts are forecasting that the company will report earnings of $2.35 per share, with EPS estimates ranging from $2.25 to $2.51. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts covering Provident Financial Services.
Provident Financial Services (NYSE:PFS – Get Rating) last reported its earnings results on Friday, April 29th. The savings and loan company reported earnings per share (EPS) of $0.58 for the quarter, beating the consensus estimate of $0.47 by $0.11. Provident Financial Services had a net margin of 33.46% and a return on equity of 9.79%. The company had revenue of $114.67 million for the quarter, compared to analyst estimates of $115.10 million. In the same period last year, the company generated earnings per share of $0.63.
Separately, StockNews.com began coverage of Provident Financial Services stock in a research report on Thursday, March 31st. You give the company a “hold” rating.
In related news, EVP James A. Christy sold 3,000 shares of the stock in a transaction on Friday, March 11th. The shares sold at an average price of $23.53 for a total value of $70,590.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC’s website. Insiders have sold a total of 9,000 shares of the company’s shares worth $203,730 over the past 90 days. Company insiders own 4.26% of the company’s shares.
A number of institutional investors and hedge funds have recently changed their positions in PFS. Advisor Group Holdings Inc. increased its holding in Provident Financial Services stock by 35.7% during the first quarter. Advisor Group Holdings Inc. now owns 1,785 shares of the $42,000 savings and loan company after buying another 470 shares last quarter. KBC Group NV increased its position in Provident Financial Services shares by 97.3% in the first quarter. KBC Group NV now owns 7,597 shares in the savings and loan company, valued at $178,000, having bought a further 3,746 shares during the period. Profund Advisors LLC acquired a new interest in Provident Financial Services stock valued at approximately $201,000 during the first quarter. Midwest Professional Planners LTD. acquired a new position at Provident Financial Services valued at approximately $202,000 during the first quarter. Finally, Aigen Investment Management LP acquired a new position in Provident Financial Services valued at approximately $216,000 during the first quarter. Institutional investors own 63.82% of the company’s shares.
NYSE PFS shares opened at $23.00 on Wednesday. The company has a market cap of $1.74 billion, a P/E of 10.75 and a beta of 0.91. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt to equity ratio of 0.28. The company has a 50-day moving average of $22.50 and a 200-day moving average of $23.53. Provident Financial Services has a 12-month low of $20.86 and a 12-month high of $26.20.
The company also recently announced a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record were paid a dividend of $0.24 on Friday, May 13th. That equates to an annualized dividend of $0.96 and a yield of 4.17%. The ex-dividend date of this dividend was Thursday May 12th. Provident Financial Services’ payout ratio is currently 44.86%.
Provident Financial Services company profile (received rating)
Provident Financial Services, Inc functions as the bank holding company of Provident Bank, which offers a variety of banking products and services to individuals, families and businesses throughout the United States. The Company’s deposit products include savings deposits, checks, interest bearing checks, money market deposits and certificates of deposit, and IRA products.
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