Provident Financial Services (PFS) to Release Earnings on Tuesday

Provident Financial Services (NYSE:PFS) is expected to post its quarterly earnings results after the market closes on Tuesday, January 28th. Analysts expect Provident Financial Services to post earnings of $0.50 per share and revenue of $210,602.75 billion for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Provident Financial Services (NYSE:PFS) last released its earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The business had revenue of $349.38 million during the quarter, compared to analysts’ expectations of $211.25 million. Provident Financial Services had a return on equity of 5.21% and a net margin of 9.55%. During the same quarter in the previous year, the business earned $0.38 EPS. 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 Stock Down 0.3 %

Shares of PFS opened at $18.91 on Friday. The firm has a fifty day moving average price of $19.76 and a 200-day moving average price of $18.95. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $2.47 billion, a P/E ratio of 18.18 and a beta of 1.08. Provident Financial Services has a 12-month low of $13.07 and a 12-month high of $22.24.

Provident Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.96 dividend on an annualized basis and a yield of 5.08%. Provident Financial Services’s dividend payout ratio is currently 92.31%.

Insider Activity at Provident Financial Services

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on PFS. StockNews.com cut Provident Financial Services from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. Hovde Group started coverage on shares of Provident Financial Services in a report on Friday, December 13th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, DA Davidson upped their target price on Provident Financial Services from $24.00 to $27.00 and gave the company 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $23.50.

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.