Brokerages expect that Provident Financial Services, Inc. (NYSE:PFS) will announce earnings per share (EPS) of $0.45 for the current quarter, according to Zacks. Three analysts have made estimates for Provident Financial Services’ earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.45. Provident Financial Services reported earnings of $0.37 per share in the same quarter last year, which suggests a positive year over year growth rate of 21.6%. The business is scheduled to report its next quarterly earnings report on Friday, October 29th.
According to Zacks, analysts expect that Provident Financial Services will report full-year earnings of $2.12 per share for the current financial year, with EPS estimates ranging from $2.10 to $2.13. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.79 per share, with EPS estimates ranging from $1.60 to $1.94. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Provident Financial Services.
Provident Financial Services (NYSE:PFS) last released its quarterly earnings results on Thursday, July 29th. The savings and loans company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. The firm had revenue of $112.06 million for the quarter, compared to analysts’ expectations of $111.23 million. Provident Financial Services had a net margin of 33.66% and a return on equity of 9.84%. The business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 earnings per share.
Shares of Provident Financial Services stock traded down $0.23 during trading on Thursday, hitting $21.46. The stock had a trading volume of 304,506 shares, compared to its average volume of 309,275. Provident Financial Services has a 12 month low of $11.76 and a 12 month high of $25.70. The company’s 50-day moving average price is $22.44. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 10.17 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.01 and a current ratio of 0.96.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 27th. Shareholders of record on Friday, August 13th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, August 12th. This represents a $0.92 annualized dividend and a yield of 4.29%. Provident Financial Services’s payout ratio is 66.19%.
In other Provident Financial Services news, Director Frank L. Fekete sold 6,839 shares of the company’s stock in a transaction dated Tuesday, May 25th. The shares were sold at an average price of $25.40, for a total transaction of $173,710.60. Following the completion of the sale, the director now directly owns 45,002 shares in the company, valued at $1,143,050.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward J. Leppert sold 20,000 shares of the company’s stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $25.17, for a total transaction of $503,400.00. Following the sale, the director now owns 68,010 shares of the company’s stock, valued at $1,711,811.70. The disclosure for this sale can be found here. Corporate insiders own 3.96% of the company’s stock.
Large investors have recently modified their holdings of the company. USA Financial Portformulas Corp bought a new position in shares of Provident Financial Services during the second quarter valued at about $58,000. KBC Group NV bought a new position in shares of Provident Financial Services during the first quarter valued at about $86,000. RMR Wealth Builders bought a new position in shares of Provident Financial Services during the first quarter valued at about $141,000. Ensign Peak Advisors Inc bought a new position in shares of Provident Financial Services during the first quarter valued at about $169,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Provident Financial Services during the second quarter valued at about $204,000. 58.73% of the stock is owned by hedge funds and other institutional investors.
About Provident Financial Services
Provident Financial Services, Inc is a holding company, which engages in the provision of banking services to individual and corporate customers in Northern and Central New Jersey and Eastern Pennsylvania. The company was founded on January 15, 2003 and is headquartered in Jersey City, NJ.
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