Provident Financial Services (PFS) Scheduled to Post Earnings on Tuesday

Provident Financial Services (NYSE:PFS) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect Provident Financial Services to post earnings of $0.46 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Thursday, July 25th. The savings and loans company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.39). Provident Financial Services had a return on equity of 4.95% and a net margin of 9.38%. The company had revenue of $141.51 million during the quarter, compared to analyst estimates of $148.60 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business’s revenue was up 42.8% compared to the same quarter last year. On average, analysts expect Provident Financial Services to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Provident Financial Services Trading Down 4.7 %

NYSE PFS opened at $18.61 on Tuesday. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 11.63 and a beta of 1.03. The firm’s 50 day moving average price is $18.46 and its two-hundred day moving average price is $16.40. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.03 and a current ratio of 1.03. Provident Financial Services has a twelve month low of $13.07 and a twelve month high of $19.97.

Provident Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.96 annualized dividend and a dividend yield of 5.16%. Provident Financial Services’s dividend payout ratio is 60.00%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PFS shares. StockNews.com lowered Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their price target on shares of Provident Financial Services from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised Provident Financial Services from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $20.00 to $21.00 in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

Insider Activity at Provident Financial Services

In other news, EVP Vito Giannola sold 5,499 shares of Provident Financial Services stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $18.09, for a total transaction of $99,476.91. Following the completion of the transaction, the executive vice president now directly owns 88,656 shares in the company, valued at approximately $1,603,787.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.29% of the stock is owned by company insiders.

Provident Financial Services Company Profile

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.