Brokerages expect Provident Financial Services, Inc. (NYSE:PFS) to post sales of $86.10 million for the current quarter, according to Zacks. Two analysts have issued estimates for Provident Financial Services’ earnings. The lowest sales estimate is $85.80 million and the highest is $86.40 million. Provident Financial Services posted sales of $79.50 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.3%. The company is scheduled to issue its next earnings report on Friday, April 27th.
According to Zacks, analysts expect that Provident Financial Services will report full-year sales of $86.10 million for the current financial year, with estimates ranging from $352.40 million to $357.00 million. For the next fiscal year, analysts expect that the firm will post sales of $374.01 million per share, with estimates ranging from $367.10 million to $380.92 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Provident Financial Services.
Provident Financial Services (NYSE:PFS) last posted its quarterly earnings data on Friday, January 26th. The savings and loans company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.03). The company had revenue of $85.20 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $0.35 earnings per share.
A number of equities analysts have recently issued reports on the company. Boenning Scattergood reissued a “hold” rating on shares of Provident Financial Services in a research note on Monday, January 29th. Sandler O’Neill raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Friday, January 26th. Piper Jaffray Companies reissued a “hold” rating and set a $28.00 target price on shares of Provident Financial Services in a research note on Tuesday, January 9th. ValuEngine raised Provident Financial Services from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research downgraded Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Provident Financial Services has a consensus rating of “Hold” and a consensus target price of $28.42.
Provident Financial Services (NYSE:PFS) traded up $0.18 on Friday, reaching $25.93. The company’s stock had a trading volume of 173,500 shares, compared to its average volume of 191,409. The stock has a market cap of $1,725.25, a P/E ratio of 17.06, a PEG ratio of 1.76 and a beta of 0.94. Provident Financial Services has a 12-month low of $23.19 and a 12-month high of $28.76. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 1.36.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.09%. The ex-dividend date is Wednesday, February 14th. Provident Financial Services’s payout ratio is currently 54.79%.
In related news, EVP Donald W. Blum sold 6,100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $28.47, for a total value of $173,667.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank L. Fekete sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.33, for a total value of $245,970.00. Following the completion of the transaction, the director now directly owns 48,903 shares of the company’s stock, valued at $1,336,518.99. The disclosure for this sale can be found here. Insiders sold a total of 18,100 shares of company stock valued at $502,377 over the last ninety days. 2.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its stake in 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 purchasing an additional 2,000 shares in the last quarter. Sei Investments Co. grew its holdings in Provident Financial Services by 170.1% during the 3rd quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock valued at $160,000 after buying an additional 3,796 shares during the last quarter. Calton & Associates Inc. acquired a new stake in Provident Financial Services during the 4th quarter valued at $190,000. Telemus Capital LLC acquired a new stake in Provident Financial Services during the 4th quarter valued at $206,000. Finally, CIBC Asset Management Inc acquired a new stake in Provident Financial Services during the 4th quarter valued at $217,000. 64.36% of the stock is owned by hedge funds and other institutional investors.
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Provident Financial Services Company Profile
Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.
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