Zacks: Analysts Expect Provident Financial Services, Inc. (NYSE:PFS) Will Announce Earnings of $0.40 Per Share

Equities research analysts expect that Provident Financial Services, Inc. (NYSE:PFS) will post $0.40 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Provident Financial Services’ earnings, with estimates ranging from $0.38 to $0.41. Provident Financial Services posted earnings per share of $0.48 in the same quarter last year, which would suggest a negative year-over-year growth rate of 16.7%. The company is scheduled to announce its next quarterly earnings report on Friday, April 24th.

On average, analysts expect that Provident Financial Services will report full year earnings of $1.58 per share for the current fiscal year, with EPS estimates ranging from $1.47 to $1.64. For the next year, analysts expect that the firm will post earnings of $1.68 per share, with EPS estimates ranging from $1.60 to $1.75. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Provident Financial Services.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings results on Friday, January 31st. The savings and loans company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $90.61 million for the quarter, compared to the consensus estimate of $89.20 million. Provident Financial Services had a return on equity of 8.08% and a net margin of 25.88%. During the same quarter last year, the company posted $0.55 EPS.

A number of research firms recently issued reports on PFS. Zacks Investment Research downgraded Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Boenning Scattergood upgraded Provident Financial Services from a “neutral” rating to an “outperform” rating in a report on Friday, March 13th.

A number of institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC grew its holdings in Provident Financial Services by 8.1% during the fourth quarter. Nuveen Asset Management LLC now owns 407,497 shares of the savings and loans company’s stock worth $10,044,000 after purchasing an additional 30,489 shares during the period. Norges Bank bought a new position in Provident Financial Services during the fourth quarter worth about $23,526,000. Geode Capital Management LLC grew its holdings in Provident Financial Services by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 793,999 shares of the savings and loans company’s stock worth $19,572,000 after purchasing an additional 36,298 shares during the period. Point72 Hong Kong Ltd bought a new position in Provident Financial Services during the fourth quarter worth about $25,000. Finally, Point72 Asset Management L.P. grew its holdings in Provident Financial Services by 354.0% during the fourth quarter. Point72 Asset Management L.P. now owns 39,500 shares of the savings and loans company’s stock worth $974,000 after purchasing an additional 30,800 shares during the period. Institutional investors and hedge funds own 66.91% of the company’s stock.

Shares of NYSE:PFS traded up $1.31 during midday trading on Monday, reaching $13.09. The company had a trading volume of 397,903 shares, compared to its average volume of 296,097. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average price is $18.93 and its 200 day moving average price is $23.16. The stock has a market cap of $809.66 million, a PE ratio of 7.48 and a beta of 0.63. Provident Financial Services has a 1-year low of $9.05 and a 1-year high of $27.57.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date of this dividend was Thursday, February 13th. Provident Financial Services’s payout ratio is currently 52.87%.

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.

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