Brokerages expect Provident Financial Services, Inc. (NYSE:PFS) to announce earnings of $0.44 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Provident Financial Services’ earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.45. Provident Financial Services reported earnings of $0.37 per share in the same quarter last year, which indicates a positive year over year growth rate of 18.9%. The business is scheduled to issue its next earnings results before the market opens on Friday, April 27th.
According to Zacks, analysts expect that Provident Financial Services will report full-year earnings of $1.84 per share for the current financial year, with EPS estimates ranging from $1.77 to $1.88. For the next year, analysts forecast that the company will post earnings of $1.92 per share, with EPS estimates ranging from $1.86 to $1.96. Zacks’ EPS averages are an average based on a survey of analysts that cover Provident Financial Services.
Provident Financial Services (NYSE:PFS) last announced its quarterly earnings data on Friday, January 26th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $85.20 million during the quarter, compared to the consensus estimate of $85.36 million. Provident Financial Services had a net margin of 24.75% and a return on equity of 7.61%. During the same quarter last year, the company earned $0.35 EPS.
A number of brokerages have issued reports on PFS. Zacks Investment Research downgraded Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. ValuEngine upgraded Provident Financial Services from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a research note on Monday, January 29th. Sandler O’Neill upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Friday, January 26th. Finally, Piper Jaffray restated a “hold” rating and issued a $28.00 price objective on shares of Provident Financial Services in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $28.42.
In other news, Director Edward Odonnell sold 11,786 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $25.84, for a total transaction of $304,550.24. Following the completion of the transaction, the director now owns 71,549 shares in the company, valued at approximately $1,848,826.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in shares of Provident Financial Services by 66.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,990 shares of the savings and loans company’s stock valued at $135,000 after acquiring an additional 2,000 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Provident Financial Services by 170.1% in the 3rd quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock valued at $160,000 after acquiring an additional 3,796 shares in the last quarter. Calton & Associates Inc. purchased a new stake in shares of Provident Financial Services in the 4th quarter valued at about $190,000. Telemus Capital LLC purchased a new stake in shares of Provident Financial Services in the 4th quarter valued at about $206,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Provident Financial Services in the 4th quarter valued at about $217,000. 66.32% of the stock is currently owned by institutional investors and hedge funds.
NYSE:PFS traded up $0.35 during trading on Thursday, reaching $26.03. The company’s stock had a trading volume of 76,664 shares, compared to its average volume of 162,776. The company has a market capitalization of $1,723.20, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.12 and a quick ratio of 1.11. Provident Financial Services has a 12 month low of $23.19 and a 12 month high of $28.76.
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About Provident Financial Services
Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA and KEOGH accounts.
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