Equity research analysts expect Provident Financial Services, Inc. (NYSE: PFS) to report sales of $ 110.57 million for the current quarter, Zacks reports. Three analysts have released earnings estimates for Provident Financial Services, with estimates ranging from $ 108.40 million to $ 113.20 million. Provident Financial Services recorded sales of $ 102.61 million in the same quarter last year, suggesting a positive year-over-year growth rate of 7.8%. The company is expected to release its next earnings report before the market opens on Friday, October 29.
On average, analysts expect Provident Financial Services to report annual revenue of $ 445.87 million for the current fiscal year, with estimates ranging from $ 441.40 million to $ 453.30. millions of dollars. For next year, analysts predict the company will post sales of $ 455.67 million, with estimates ranging from $ 443.60 million to $ 463.30 million. Zacks Investment Research sales averages are an average based on a survey of sales analysts who track Provident Financial Services.
Provident Financial Services (NYSE: PFS) last released its quarterly results on Thursday, July 29. The savings and loan company reported EPS of $ 0.58 for the quarter, beating the Zacks consensus estimate of $ 0.45 by $ 0.13. Provident Financial Services recorded a return on equity of 9.84% and a net margin of 33.66%. The company posted revenue of $ 112.06 million in the quarter, compared to a consensus estimate of $ 111.23 million. During the same period last year, the company made a profit of $ 0.22 per share. The company’s revenue for the quarter increased 33.1% compared to the same quarter last year.
A number of brokerage firms have commented on PFS. Barclays reaffirmed an “overweight” rating on Provident Financial Services shares in a research note on Thursday, August 12. Zacks Investment Research downgraded Provident Financial Services’ rating from a “buy” rating to a “custody” rating in a Tuesday (October 5) research note. Two investment analysts rated the stock with a conservation rating and two gave the stock a buy rating. According to MarketBeat data, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 25.00.
PFS shares opened at $ 24.71 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96, and a debt ratio of 0.45. The company has a 50-day moving average of $ 22.48 and a two-hundred-day moving average of $ 23.11. Provident Financial Services has a 52 week low of $ 12.53 and a 52 week high of $ 25.70. The company has a market cap of $ 1.93 billion, a P / E ratio of 11.71 and a beta of 1.05.
The company also recently announced a quarterly dividend, which was paid on Friday, August 27. Investors of record on Friday, August 13, received a dividend of $ 0.23 per share. The ex-dividend date of this dividend was Thursday, August 12. This represents an annualized dividend of $ 0.92 and a return of 3.72%. The payout ratio of Provident Financial Services is 66.19%.
Meanwhile, Executive Vice President James A. Christy sold 3,000 shares of the company in a transaction on Wednesday, September 1. The shares were sold at an average price of $ 21.93, for a total trade of $ 65,790.00. The transaction was disclosed in a legal file with the SEC, accessible through this link. In addition, Executive Vice President Vito Giannola sold 10,000 shares of the company in a transaction on Wednesday 25 August. The stock was sold at an average price of $ 22.18, for a total trade of $ 221,800.00. Following the finalization of the sale, the Executive Vice President now owns 96,832 shares of the company, valued at $ 2,147,733.76. Disclosure of this sale can be found here. 3.96% of the shares are currently held by company insiders.
A number of large investors have recently bought and sold shares of PFS. The Swiss National Bank increased its position in Provident Financial Services by 0.6% in the first quarter. The Swiss National Bank now owns 161,200 shares of the savings and loan company valued at $ 3,592,000 after purchasing an additional 900 shares in the last quarter. BlackRock Inc. increased its position in Provident Financial Services by 2.1% in the first quarter. BlackRock Inc. now owns 11,412,065 shares of the savings and loan company valued at $ 254,260,000 after purchasing an additional 236,714 shares in the last quarter. The Tennessee State Department of the Treasury increased its stake in Provident Financial Services by 98.2% during the first quarter. The Tennessee State Department of the Treasury now owns 43,583 shares of the savings and loan company valued at $ 971,000 after purchasing an additional 21,594 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Provident Financial Services by 5.5% in the first quarter. Russell Investments Group Ltd. now owns 85,225 shares of the savings and loan company valued at $ 1,896,000 after purchasing 4,431 additional shares in the last quarter. Finally, the New York State Common Retirement Fund increased its stake in Provident Financial Services by 9.6% during the first quarter. The New York State Pooled Retirement Fund now owns 72,755 shares of the savings and loan company worth $ 1,621,000 after purchasing an additional 6,400 shares in the last quarter. 61.35% of the shares are held by hedge funds and other institutional investors.
Profile of the provident financial services company
Provident Financial Services, Inc is a holding company that provides banking services to individuals and businesses in northern and central New Jersey and eastern Pennsylvania. The company was founded on January 15, 2003 and is headquartered in Jersey City, New Jersey.
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