Equities analysts predict that Provident Financial Services, Inc. (NYSE:PFS) will report $0.44 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Provident Financial Services’ earnings. The lowest EPS estimate is $0.44 and the highest is $0.45. Provident Financial Services posted earnings of $0.43 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The firm is expected to report its next earnings report on Friday, April 26th.
According to Zacks, analysts expect that Provident Financial Services will report full-year earnings of $1.85 per share for the current year, with EPS estimates ranging from $1.78 to $1.90. For the next year, analysts forecast that the company will post earnings of $1.87 per share, with EPS estimates ranging from $1.84 to $1.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Provident Financial Services.
Provident Financial Services (NYSE:PFS) last announced its quarterly earnings results on Friday, February 1st. The savings and loans company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.06. Provident Financial Services had a return on equity of 8.92% and a net margin of 28.29%. The company had revenue of $92.95 million during the quarter, compared to analyst estimates of $89.83 million. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis.
A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. ValuEngine upgraded Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a research report on Friday, October 26th. Finally, Sandler O’Neill upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Thursday, December 20th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $26.50.
Hedge funds and other institutional investors have recently modified their holdings of the company. California Public Employees Retirement System raised its holdings in shares of Provident Financial Services by 3.4% in the second quarter. California Public Employees Retirement System now owns 214,035 shares of the savings and loans company’s stock worth $5,892,000 after buying an additional 6,960 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Provident Financial Services in the third quarter worth approximately $1,644,000. Bank of New York Mellon Corp raised its holdings in shares of Provident Financial Services by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 971,668 shares of the savings and loans company’s stock worth $26,750,000 after buying an additional 4,041 shares during the period. Dalton Greiner Hartman Maher & Co. raised its holdings in shares of Provident Financial Services by 14.8% in the third quarter. Dalton Greiner Hartman Maher & Co. now owns 971,229 shares of the savings and loans company’s stock worth $23,844,000 after buying an additional 125,218 shares during the period. Finally, Moody Aldrich Partners LLC raised its holdings in shares of Provident Financial Services by 19.0% in the third quarter. Moody Aldrich Partners LLC now owns 148,625 shares of the savings and loans company’s stock worth $3,649,000 after buying an additional 23,737 shares during the period. Hedge funds and other institutional investors own 52.35% of the company’s stock.
Shares of PFS stock opened at $27.63 on Wednesday. Provident Financial Services has a 1 year low of $22.22 and a 1 year high of $29.12. The company has a current ratio of 1.08, a quick ratio of 1.09 and a debt-to-equity ratio of 1.08. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.85 and a beta of 0.56.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Friday, February 15th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, February 14th. This is an increase from Provident Financial Services’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 3.33%. Provident Financial Services’s dividend payout ratio is 46.15%.
Provident Financial Services Company Profile
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. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA and KEOGH accounts.
Featured Story: Calculate Your Return on Investment (ROI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Provident Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.