Provident Financial Services (NYSE:PFS) Issues Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Provident Financial Services (NYSE:PFS) issued its earnings results on Tuesday. The savings and loans company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.13), Zacks reports. Provident Financial Services had a net margin of 9.55% and a return on equity of 5.21%.

Provident Financial Services Stock Performance

PFS traded up $0.10 during trading on Tuesday, hitting $19.25. The company’s stock had a trading volume of 765,592 shares, compared to its average volume of 544,794. The business’s 50 day simple moving average is $19.76 and its 200-day simple moving average is $18.98. The firm has a market cap of $2.51 billion, a PE ratio of 18.50 and a beta of 1.08. Provident Financial Services has a one year low of $13.07 and a one year high of $22.24. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.02.

Wall Street Analysts Forecast Growth

PFS has been the subject of several research analyst reports. Hovde Group started coverage on Provident Financial Services in a report on Friday, December 13th. They issued an “outperform” rating and a $25.00 price objective for the company. StockNews.com cut shares of Provident Financial Services from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Finally, DA Davidson lifted their target price on shares of Provident Financial Services from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Provident Financial Services presently has an average rating of “Moderate Buy” and an average price target of $23.50.

Insider Activity

In other Provident Financial Services news, EVP James A. Christy sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $20.88, for a total transaction of $73,080.00. Following the sale, the executive vice president now owns 34,254 shares in the company, valued at approximately $715,223.52. This trade represents a 9.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.29% of the company’s stock.

About Provident Financial Services

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.