Provident Financial Services (PFS) Projected to Post Earnings on Tuesday

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

Provident Financial Services (NYSE:PFS) last released its quarterly 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). Provident Financial Services had a net margin of 9.55% and a return on equity of 5.21%. The business had revenue of $349.38 million for the quarter, compared to the consensus estimate of $211.25 million. During the same period last year, the firm posted $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 Price Performance

Shares of PFS opened at $18.91 on Monday. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 18.18 and a beta of 1.08. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s fifty day moving average is $19.76 and its 200-day moving average is $18.98. Provident Financial Services has a one year low of $13.07 and a one year high of $22.24.

Provident Financial Services Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity

In other news, EVP James A. Christy sold 3,500 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 34,254 shares in the company, valued at $715,223.52. The trade was a 9.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.29% of the stock is currently owned by corporate insiders.

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.