Brokerages expect Provident Financial Services, Inc. (NYSE:PFS) to announce $0.46 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Provident Financial Services’ earnings. The highest EPS estimate is $0.47 and the lowest is $0.44. Provident Financial Services posted earnings per share of $0.43 in the same quarter last year, which would suggest a positive year-over-year growth rate of 7%. The company is expected to announce its next earnings results before the market opens on Friday, April 26th.
According to Zacks, analysts expect that Provident Financial Services will report full-year earnings of $1.92 per share for the current year, with EPS estimates ranging from $1.90 to $1.95. For the next year, analysts expect that the company will post earnings of $1.97 per share, with EPS estimates ranging from $1.90 to $2.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Provident Financial Services.
Provident Financial Services (NYSE:PFS) last announced its quarterly earnings results on Friday, February 1st. The savings and loans company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. Provident Financial Services had a net margin of 28.29% and a return on equity of 8.92%. The firm had revenue of $92.95 million during the quarter, compared to analyst estimates of $89.83 million. During the same period in the previous year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis.
Separately, Zacks Investment Research upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Wednesday, February 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Provident Financial Services currently has an average rating of “Hold” and an average target price of $27.50.
Shares of PFS stock opened at $27.02 on Monday. Provident Financial Services has a 52 week low of $22.22 and a 52 week high of $29.12. The company has a market capitalization of $1.79 billion, a PE ratio of 14.85, a P/E/G ratio of 1.74 and a beta of 0.56. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.08 and a quick ratio of 1.08.
In related news, EVP Brian Giovinazzi sold 7,340 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $26.23, for a total transaction of $192,528.20. Following the completion of the sale, the executive vice president now directly owns 97,263 shares in the company, valued at $2,551,208.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank L. Fekete sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.26, for a total transaction of $136,300.00. Following the sale, the director now owns 38,953 shares of the company’s stock, valued at $1,061,858.78. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PFS. Bank of New York Mellon Corp lifted its stake in Provident Financial Services by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 1,000,369 shares of the savings and loans company’s stock worth $24,560,000 after acquiring an additional 28,701 shares during the period. BlackRock Inc. lifted its position in Provident Financial Services by 4.0% during the 3rd quarter. BlackRock Inc. now owns 8,895,360 shares of the savings and loans company’s stock valued at $218,380,000 after acquiring an additional 343,516 shares during the period. Renaissance Technologies LLC lifted its position in Provident Financial Services by 5.8% during the 3rd quarter. Renaissance Technologies LLC now owns 1,328,800 shares of the savings and loans company’s stock valued at $32,622,000 after acquiring an additional 72,400 shares during the period. BlueMountain Capital Management LLC increased its stake in Provident Financial Services by 54.2% during the 3rd quarter. BlueMountain Capital Management LLC now owns 17,319 shares of the savings and loans company’s stock valued at $425,000 after purchasing an additional 6,085 shares in the last quarter. Finally, MetLife Investment Advisors LLC increased its stake in Provident Financial Services by 52.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 44,394 shares of the savings and loans company’s stock valued at $1,090,000 after purchasing an additional 15,289 shares in the last quarter. Institutional investors own 67.84% of the company’s stock.
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. 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.
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