Stock analysts predict that Provident Financial Services, Inc. (NYSE: PFS) will report earnings of $ 0.47 per share for the current quarter, Zacks investment research reports. Three analysts provided earnings estimates for Provident Financial Services, with the lowest EPS estimate being $ 0.45 and the highest estimate being $ 0.51. Provident Financial Services posted earnings of $ 0.53 per share in the same quarter last year, indicating a negative growth rate of 11.3% year-over-year. The company is expected to announce its next quarterly earnings report on Friday, February 4.
According to Zacks, analysts expect Provident Financial Services to report annual earnings of $ 2.16 per share for the current year, with EPS estimates ranging from $ 2.11 to $ 2.21. For next year, analysts predict the company will post earnings of $ 1.84 per share, with EPS estimates ranging from $ 1.75 to $ 1.94. Zacks’ earnings per share calculations are an average based on a survey of research companies that cover Provident Financial Services.
Provident Financial Services (NYSE: PFS) last released its quarterly earnings data on Thursday, October 28. The savings and loan company reported earnings per share (EPS) of $ 0.49 for the quarter, beating analyst consensus estimates of $ 0.47 by $ 0.02. The company posted revenue of $ 99.59 million in the quarter, compared to analysts’ estimates of $ 113.23 million. Provident Financial Services generated a net margin of 35.12% and a return on equity of 10.34%. The company’s quarterly revenue grew 6.6% year-over-year. In the same quarter of last year, the company made EPS of $ 0.37.
Separately, Zacks investment research downgraded Provident Financial Services from a “custody” rating to a “buy” rating and set a target price of $ 26.00 for the company in a research note on Friday, December 17.
The NYSE PFS traded up $ 0.20 during trading hours on Friday, reaching $ 24.29. The company’s shares had a traded volume of 124,383 shares, compared to its average volume of 294,355. The stock has a market cap of $ 1.88 billion, a P / E ratio of 10.89 and a beta of 0.98. The company has a fifty-day simple moving average of $ 24.51 and a 200-day simple moving average of $ 23.34. The company has a leverage ratio of 0.41, a current ratio of 0.92, and a rapid ratio of 0.92. Provident Financial Services has a 52 week low of $ 17.50 and a 52 week high of $ 25.98.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 26. Shareholders of record on Friday, November 12 received a dividend of $ 0.24 per share. This represents a dividend of $ 0.96 on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Wednesday, November 10. This is a positive change from Provident Financial Services’ previous quarterly dividend of $ 0.23. Provident Financial Services’ dividend payout ratio is 43.05%.
Several large investors have recently increased or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its holdings of shares of Provident Financial Services by 27.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,827 shares of the savings and loan company valued at $ 65,000 after acquiring an additional 616 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Provident Financial Services during the third quarter valued at approximately $ 146,000. CIBC Asset Management Inc purchased a new position in shares of Provident Financial Services during the third quarter, valued at approximately $ 207,000. Teacher Retirement System of Texas purchased a new position in Provident Financial Services shares during the second quarter valued at approximately $ 204,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Provident Financial Services shares during the third quarter valued at approximately $ 230,000. 61.39% of the shares are held by hedge funds and other institutional investors.
About provident financial services
Provident Financial Services, Inc is a holding company that provides banking services to individuals and businesses in northern and central New Jersey and eastern Pennsylvania. The company was founded on January 15, 2003 and is headquartered in Jersey City, New Jersey.
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