Wall Street brokerages forecast that Provident Financial Services, Inc. (NYSE:PFS) will report earnings per share (EPS) of $0.12 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Provident Financial Services’ earnings, with the lowest EPS estimate coming in at ($0.14) and the highest estimate coming in at $0.26. Provident Financial Services reported earnings of $0.49 per share during the same quarter last year, which would suggest a negative year over year growth rate of 75.5%. The firm is scheduled to issue its next earnings report on Friday, October 23rd.
According to Zacks, analysts expect that Provident Financial Services will report full year earnings of $0.85 per share for the current financial year, with EPS estimates ranging from $0.50 to $1.05. For the next financial year, analysts expect that the business will report earnings of $1.35 per share, with EPS estimates ranging from $1.25 to $1.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Provident Financial Services.
Provident Financial Services (NYSE:PFS) last posted its earnings results on Thursday, July 30th. The savings and loans company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.07. Provident Financial Services had a return on equity of 6.15% and a net margin of 20.60%. The company had revenue of $84.19 million for the quarter, compared to the consensus estimate of $86.27 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was down 8.9% on a year-over-year basis.
Several equities research analysts recently issued reports on PFS shares. Zacks Investment Research downgraded Provident Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. ValuEngine upgraded Provident Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, September 3rd.
NYSE:PFS opened at $12.00 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $790.49 million, a P/E ratio of 8.96 and a beta of 0.95. Provident Financial Services has a 52 week low of $9.05 and a 52 week high of $25.49. The stock’s fifty day moving average is $13.41 and its two-hundred day moving average is $13.51.
The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.92 annualized dividend and a yield of 7.67%. Provident Financial Services’s dividend payout ratio (DPR) is 52.87%.
In other Provident Financial Services news, EVP John R. Kamin sold 4,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $13.41, for a total transaction of $53,640.00. Following the sale, the executive vice president now owns 8,484 shares in the company, valued at approximately $113,770.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. boosted its position in shares of Provident Financial Services by 152.7% during the 1st quarter. Federated Hermes Inc. now owns 2,808 shares of the savings and loans company’s stock worth $36,000 after acquiring an additional 1,697 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Provident Financial Services during the 2nd quarter worth about $40,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Provident Financial Services by 69.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,590 shares of the savings and loans company’s stock worth $72,000 after acquiring an additional 2,293 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Provident Financial Services during the 1st quarter worth about $77,000. Finally, Bank of Montreal Can boosted its position in shares of Provident Financial Services by 90.1% during the 2nd quarter. Bank of Montreal Can now owns 6,204 shares of the savings and loans company’s stock worth $80,000 after acquiring an additional 2,940 shares in the last quarter. Institutional investors own 66.59% of the company’s stock.
Provident Financial Services Company Profile
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. The company’s deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA, and KEOGH products.
Further Reading: Buy-Side Analysts
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