Analysts predict that Provident Financial Services, Inc. (NYSE: PFS) will post earnings of $ 0.45 per share for the current fiscal quarter, Zack reports. Three analysts estimated Provident Financial Services earnings, with the lowest EPS estimate being $ 0.45 and the highest estimate being $ 0.46. Provident Financial Services posted earnings per share of $ 0.37 in the same quarter last year, indicating a positive year-over-year growth rate of 21.6%. The company is expected to release its next results on Friday, October 29.
According to Zacks, analysts expect Provident Financial Services to report annual earnings of $ 2.12 per share for the current year, with EPS estimates ranging from $ 2.10 to $ 2.13. For the next fiscal year, analysts predict the company will post earnings of $ 1.79 per share, with EPS estimates ranging from $ 1.60 to $ 1.94. Zacks’ earnings per share calculations are an average based on a survey of analysts who follow Provident Financial Services.
Provident Financial Services (NYSE: PFS) last released its quarterly results on Thursday, July 29. The savings and loan company reported earnings per share (EPS) of $ 0.58 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.45 of $ 0.13. The company posted revenue of $ 112.06 million in the quarter, compared to a consensus estimate of $ 111.23 million. Provident Financial Services posted a net margin of 33.66% and a return on equity of 9.84%. The company’s revenue for the quarter increased 33.1% year-over-year. In the same quarter of last year, the company made earnings per share of $ 0.22.
A number of brokerage firms have recently weighed in on PFS. Barclays reissued an “overweight” rating on Provident Financial Services shares in a research note on Thursday, August 12. Zacks investment research raised Provident Financial Services shares from a “hold” rating to a “buy” rating and set a target price of $ 24.00 for the company in a research note on Wednesday, August 4. Two research analysts rated the stock with a conservation rating and four gave the company’s stock a buy rating. According to MarketBeat, Provident Financial Services has a consensus rating of “Buy” and a consensus price target of $ 21.67.
The NYSE PFS traded up $ 0.15 at midday on Friday, reaching $ 22.23. 1,303,583 shares were traded, for an average volume of 306,605. Provident Financial Services has a one-year low of $ 11.76 and a one-year high of $ 25.70. The stock has a 50-day simple moving average of $ 21.91 and a 200-day simple moving average of $ 23.01. The stock has a market cap of $ 1.73 billion, a P / E ratio of 10.54 and a beta of 1.05. The company has a leverage ratio of 0.45, a current ratio of 0.96, and a quick ratio of 0.96.
The company also recently declared a quarterly dividend, which was paid on Friday, August 27. Shareholders of record on Friday August 13 received a dividend of $ 0.23. This represents an annualized dividend of $ 0.92 and a return of 4.14%. The ex-dividend date of this dividend was Thursday, August 12. Provident Financial Services’ dividend payout ratio (DPR) is currently 66.19%.
In addition, Executive Vice President James A. Christy sold 3,000 shares of Provident Financial Services in a transaction dated Wednesday, September 1. The shares were sold at an average price of $ 21.93, for a total trade of $ 65,790.00. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available through this link. In addition, Executive Vice President Vito Giannola sold 10,000 shares of the company in a transaction dated Wednesday, August 25. The stock was sold at an average price of $ 22.18, for a total trade of $ 221,800.00. As a result of the transaction, the Executive Vice President now owns 96,832 shares of the company, valued at $ 2,147,733.76. Disclosure of this sale can be found here. 3.96% of the shares are held by insiders of the company.
A number of hedge funds have recently changed their positions in the company. American Century Companies Inc. increased its position in shares of Provident Financial Services by 1,453.9% in the second quarter. American Century Companies Inc. now owns 1,387,400 shares of the savings and loan company valued at $ 31,758,000 after purchasing an additional 1,298,115 shares during the period. BlackRock Inc. increased its position in shares of Provident Financial Services by 2.1% in the first quarter. BlackRock Inc. now owns 11,412,065 shares of the savings and loan company valued at $ 254,260,000 after purchasing an additional 236,714 shares during the period. Vanguard Group Inc. increased its position in shares of Provident Financial Services by 3.1% in the second quarter. Vanguard Group Inc. now owns 7,826,843 shares of the savings and loan company valued at $ 179,157,000 after purchasing an additional 235,040 shares during the period. State Street Corp increased its stake in Provident Financial Services by 6.1% during the 2nd quarter. State Street Corp now owns 3,150,729 shares of the savings and loan company valued at $ 72,120,000 after acquiring an additional 181,143 shares during the period. Finally, Northern Trust Corp increased its stake in Provident Financial Services by 22.5% during the second quarter. Northern Trust Corp now owns 971,751 shares of the savings and loan company valued at $ 22,244,000 after acquiring an additional 178,529 shares during the period. 61.35% of the shares are currently held by institutional investors and hedge funds.
About provident financial services
Provident Financial Services, Inc is a holding company that provides banking services to individuals and businesses in northern and central New Jersey and eastern Pennsylvania. The company was founded on January 15, 2003 and is headquartered in Jersey City, New Jersey.
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