Brokerages expect that Provident Financial Services, Inc. (NYSE:PFS) will report sales of $110.20 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Provident Financial Services’ earnings, with the highest sales estimate coming in at $110.30 million and the lowest estimate coming in at $110.10 million. Provident Financial Services reported sales of $84.19 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 30.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, July 29th.
On average, analysts expect that Provident Financial Services will report full year sales of $442.33 million for the current fiscal year, with estimates ranging from $439.90 million to $445.40 million. For the next fiscal year, analysts anticipate that the firm will post sales of $451.20 million, with estimates ranging from $443.40 million to $458.10 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Provident Financial Services.
Provident Financial Services (NYSE:PFS) last announced its earnings results on Thursday, April 29th. The savings and loans company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.43 by $0.20. The company had revenue of $100.53 million for the quarter, compared to analyst estimates of $111.37 million. Provident Financial Services had a return on equity of 5.64% and a net margin of 19.45%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS.
In other news, EVP James A. Christy sold 4,000 shares of the stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $23.37, for a total transaction of $93,480.00. Following the transaction, the executive vice president now directly owns 27,227 shares of the company’s stock, valued at approximately $636,294.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Walter Sierotko sold 2,808 shares of the stock in a transaction on Friday, May 7th. The shares were sold at an average price of $25.06, for a total value of $70,368.48. Following the transaction, the executive vice president now directly owns 26,934 shares in the company, valued at $674,966.04. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Valley National Advisers Inc. increased its stake in shares of Provident Financial Services by 1.4% in the 1st quarter. Valley National Advisers Inc. now owns 29,745 shares of the savings and loans company’s stock worth $663,000 after purchasing an additional 406 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Provident Financial Services by 6.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 9,662 shares of the savings and loans company’s stock worth $215,000 after purchasing an additional 562 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Provident Financial Services by 0.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 167,614 shares of the savings and loans company’s stock worth $3,010,000 after buying an additional 578 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Provident Financial Services by 2.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 30,152 shares of the savings and loans company’s stock worth $672,000 after buying an additional 600 shares in the last quarter. Finally, Swiss National Bank increased its stake in Provident Financial Services by 0.6% in the 1st quarter. Swiss National Bank now owns 161,200 shares of the savings and loans company’s stock worth $3,592,000 after buying an additional 900 shares in the last quarter. 61.48% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PFS traded up $1.13 on Friday, hitting $25.28. The stock had a trading volume of 346,945 shares, compared to its average volume of 358,993. The business’s fifty day moving average is $23.37 and its 200 day moving average is $19.59. The company has a market cap of $1.97 billion, a PE ratio of 20.72 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.92. Provident Financial Services has a 52 week low of $10.55 and a 52 week high of $25.62.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Friday, May 14th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, May 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.64%. Provident Financial Services’s dividend payout ratio (DPR) is 52.87%.
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. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.
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