Q2 2019 EPS Estimates for Provident Financial Services, Inc. (PFS) Decreased by DA Davidson

Provident Financial Services, Inc. (NYSE:PFS) – Equities research analysts at DA Davidson cut their Q2 2019 EPS estimates for Provident Financial Services in a research report issued to clients and investors on Monday, April 29th, according to Zacks Investment Research. DA Davidson analyst R. Gunther now forecasts that the savings and loans company will post earnings of $0.45 per share for the quarter, down from their prior estimate of $0.46. DA Davidson also issued estimates for Provident Financial Services’ Q3 2019 earnings at $0.48 EPS, Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.88 EPS, Q1 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.48 EPS and FY2020 earnings at $1.88 EPS.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Friday, April 26th. The savings and loans company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The firm had revenue of $87.20 million for the quarter, compared to the consensus estimate of $90.53 million. Provident Financial Services had a net margin of 28.66% and a return on equity of 9.03%. During the same period last year, the company posted $0.43 EPS.

Other analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Friday, January 18th. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.50.

PFS stock traded down $0.43 during mid-day trading on Thursday, hitting $24.89. 178,100 shares of the company were exchanged, compared to its average volume of 182,882. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.08 and a current ratio of 1.07. The company has a market capitalization of $1.68 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.66 and a beta of 0.55. Provident Financial Services has a 1-year low of $22.22 and a 1-year high of $29.12.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Provident Financial Services by 5.1% in the fourth quarter. BlackRock Inc. now owns 9,345,503 shares of the savings and loans company’s stock valued at $225,507,000 after buying an additional 450,143 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Provident Financial Services by 2.5% in the third quarter. Vanguard Group Inc now owns 6,182,565 shares of the savings and loans company’s stock valued at $151,781,000 after buying an additional 147,866 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Provident Financial Services by 2.5% in the third quarter. Vanguard Group Inc. now owns 6,182,565 shares of the savings and loans company’s stock valued at $151,781,000 after buying an additional 147,866 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Provident Financial Services by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,947,353 shares of the savings and loans company’s stock valued at $50,417,000 after buying an additional 69,300 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Provident Financial Services by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 1,000,369 shares of the savings and loans company’s stock valued at $24,560,000 after buying an additional 28,701 shares in the last quarter. Institutional investors own 68.07% of the company’s stock.

In other news, EVP Brian Giovinazzi sold 7,340 shares of Provident Financial Services stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $26.23, for a total value of $192,528.20. Following the sale, the executive vice president now directly owns 97,263 shares in the company, valued at $2,551,208.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James P. Dunigan acquired 1,000 shares of the stock in a transaction dated Wednesday, February 27th. The stock was acquired at an average price of $27.30 per share, for a total transaction of $27,300.00. The disclosure for this purchase can be found here. 3.00% of the stock is owned by company insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.70%. Provident Financial Services’s dividend payout ratio (DPR) is presently 50.55%.

About Provident Financial Services

Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking 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, and KEOGH products.

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Earnings History and Estimates for Provident Financial Services (NYSE:PFS)

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