Wall Street analysts predict that Provident Financial Services, Inc. (NYSE:PFS) will post $0.40 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Provident Financial Services’ earnings. The lowest EPS estimate is $0.38 and the highest is $0.41. Provident Financial Services posted earnings per share of $0.48 in the same quarter last year, which would indicate a negative year-over-year growth rate of 16.7%. The business is scheduled to issue its next earnings results on Friday, April 24th.
On average, analysts expect that Provident Financial Services will report full-year earnings of $1.58 per share for the current year, with EPS estimates ranging from $1.47 to $1.64. For the next financial year, analysts expect that the business will post earnings of $1.68 per share, with EPS estimates ranging from $1.60 to $1.75. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Provident Financial Services.
Provident Financial Services (NYSE:PFS) last posted its earnings results on Friday, January 31st. The savings and loans company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $90.61 million for the quarter, compared to analysts’ expectations of $89.20 million. Provident Financial Services had a net margin of 25.88% and a return on equity of 8.08%. During the same period last year, the firm earned $0.55 earnings per share.
Shares of NYSE:PFS traded up $1.31 during trading on Monday, hitting $13.09. 397,903 shares of the stock traded hands, compared to its average volume of 296,097. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.81. The company has a market cap of $809.66 million, a price-to-earnings ratio of 7.48 and a beta of 0.63. The company has a fifty day moving average price of $18.93 and a two-hundred day moving average price of $23.16. Provident Financial Services has a 52-week low of $9.05 and a 52-week high of $27.57.
The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 7.03%. The ex-dividend date was Thursday, February 13th. Provident Financial Services’s payout ratio is presently 52.87%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its holdings in Provident Financial Services by 4.0% in the 4th quarter. State Street Corp now owns 1,956,960 shares of the savings and loans company’s stock worth $48,239,000 after acquiring an additional 75,611 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Provident Financial Services by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,027,077 shares of the savings and loans company’s stock worth $25,318,000 after acquiring an additional 73,317 shares in the last quarter. Norges Bank purchased a new stake in Provident Financial Services in the 4th quarter worth $23,526,000. Geode Capital Management LLC increased its holdings in Provident Financial Services by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 793,999 shares of the savings and loans company’s stock worth $19,572,000 after acquiring an additional 36,298 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Provident Financial Services by 8.3% in the 4th quarter. Acadian Asset Management LLC now owns 583,190 shares of the savings and loans company’s stock worth $14,378,000 after acquiring an additional 44,595 shares in the last quarter. 66.91% of the stock is owned by institutional investors.
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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