Provident Financial Services (NYSE:PFS) Announces Earnings Results

Provident Financial Services (NYSE:PFS) posted its quarterly earnings results on Tuesday. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08, Zacks reports. Provident Financial Services had a net margin of 18.76% and a return on equity of 9.62%.

Provident Financial Services Trading Up 1.1%

NYSE:PFS traded up $0.22 during trading hours on Tuesday, reaching $20.81. 1,042,016 shares of the company were exchanged, compared to its average volume of 876,498. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 10.62 and a beta of 0.85. The stock has a 50 day simple moving average of $20.02 and a 200 day simple moving average of $19.37. Provident Financial Services has a 52-week low of $14.34 and a 52-week high of $21.71. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.02 and a quick ratio of 1.02.

Provident Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Friday, November 14th. Provident Financial Services’s payout ratio is presently 48.98%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PFS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Provident Financial Services in a research note on Thursday. DA Davidson downgraded Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Zacks Research lowered Provident Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.70.

Insider Activity at Provident Financial Services

In other Provident Financial Services news, CEO George Lista sold 8,262 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $18.35, for a total value of $151,607.70. Following the transaction, the chief executive officer directly owned 108,656 shares of the company’s stock, valued at $1,993,837.60. This trade represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Provident Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in PFS. CIBC Bancorp USA Inc. bought a new position in Provident Financial Services in the 3rd quarter valued at about $265,000. Danske Bank A S bought a new position in shares of Provident Financial Services in the third quarter valued at approximately $58,000. Hancock Whitney Corp acquired a new position in shares of Provident Financial Services during the third quarter valued at approximately $430,000. CANADA LIFE ASSURANCE Co lifted its position in Provident Financial Services by 3.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 141,403 shares of the savings and loans company’s stock worth $2,737,000 after purchasing an additional 4,118 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Provident Financial Services in the third quarter worth approximately $1,178,000. 71.97% of the stock is owned by institutional investors and hedge funds.

Provident Financial Services News Roundup

Here are the key news stories impacting Provident Financial Services this week:

• Positive Sentiment: Q4 results beat expectations — Provident reported EPS of $0.64 vs. consensus $0.56, with net income of $83.4M, improved sequential and year-over-year profitability, a net margin ~18.8% and ROE ~9.6% (signals stronger earnings momentum). Q4 Earnings Release
• Positive Sentiment: Board authorized a tenth share repurchase program (up to ~2.81M shares, ~2.15% of outstanding) to begin after the current program completes — buybacks reduce share count and typically support the stock and signal management confidence in capital strength. Repurchase Authorization
• Neutral Sentiment: Repurchase program details are flexible — no expiration date and purchases will depend on market, capital and regulatory considerations, so the timing/scale of actual buybacks is uncertain. Repurchase Program Details
• Neutral Sentiment: Company announced Q4/full-year results and the annual meeting date (administrative item; useful for shareholders but not a direct price catalyst). Earnings & Annual Meeting
• Negative Sentiment: Recent insider selling (multiple executive sales reported over the past six months) could be seen as a mild negative signal to some investors, though company buybacks and earnings strength offset this for many market participants. Insider Trading / Repurchase Coverage

Provident Financial Services declared that its board has authorized a stock buyback program on Monday, January 26th that allows the company to buyback $2.81 million in outstanding shares. This buyback authorization allows the savings and loans company to purchase up to 0.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Provident Financial Services Company Profile

Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.

Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.