Provident Financial Services (PFS) Set to Announce Quarterly Earnings on Tuesday

Provident Financial Services (NYSE:PFS) will be releasing its earnings data after the market closes on Tuesday, October 29th. Analysts expect Provident Financial Services to post earnings of $0.46 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings results on Thursday, July 25th. The savings and loans company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.39). Provident Financial Services had a return on equity of 4.95% and a net margin of 9.38%. The company had revenue of $141.51 million during the quarter, compared to analysts’ expectations of $148.60 million. During the same period last year, the firm earned $0.45 earnings per share. Provident Financial Services’s revenue for the quarter was up 42.8% on a year-over-year basis. 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 1.9 %

Shares of Provident Financial Services stock opened at $18.68 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.03 and a current ratio of 1.03. Provident Financial Services has a 52-week low of $13.07 and a 52-week high of $19.97. The company’s 50 day moving average price is $18.56 and its 200-day moving average price is $16.51. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 11.68 and a beta of 1.03.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their target price on Provident Financial Services from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods upgraded shares of Provident Financial Services from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $20.00 to $21.00 in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.67.

Insider Buying and Selling at Provident Financial Services

In other news, EVP Vito Giannola sold 5,499 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $18.09, for a total value of $99,476.91. Following the completion of the transaction, the executive vice president now owns 88,656 shares of the company’s stock, valued at approximately $1,603,787.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.29% of the company’s stock.

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.