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

Provident Financial Services (NYSE:PFS) is anticipated to announce its 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. Parties that wish to register for the company’s conference call can do so using this link.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 EPS 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 firm had revenue of $349.38 million during the quarter, compared to analyst estimates of $211.25 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. 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 0.3 %

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

Provident Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.96 annualized dividend and a dividend yield of 5.08%. Provident Financial Services’s dividend payout ratio (DPR) is currently 92.31%.

Insider Transactions at Provident Financial Services

In other news, EVP James A. Christy sold 3,500 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $20.88, for a total transaction of $73,080.00. Following the completion of the sale, the executive vice president now owns 34,254 shares in the company, valued at $715,223.52. The trade was a 9.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.29% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.