Wall Street brokerages predict that Provident Financial Services, Inc. (NYSE:PFS) will report sales of $85.36 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Provident Financial Services’ earnings. The highest sales estimate is $85.51 million and the lowest is $85.21 million. Provident Financial Services posted sales of $81.10 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.3%. The business is expected to report its next earnings report before the market opens on Friday, January 26th.

According to Zacks, analysts expect that Provident Financial Services will report full year sales of $85.36 million for the current fiscal year, with estimates ranging from $333.91 million to $334.21 million. For the next fiscal year, analysts anticipate that the firm will post sales of $351.60 million per share, with estimates ranging from $348.60 million to $354.61 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Provident Financial Services.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Friday, October 27th. The savings and loans company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The business had revenue of $85.32 million for the quarter, compared to analyst estimates of $83.84 million. Provident Financial Services had a net margin of 25.90% and a return on equity of 7.61%. During the same period last year, the company posted $0.36 earnings per share.

A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $28.00 target price on shares of Provident Financial Services in a research report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $28.50 target price on shares of Provident Financial Services in a research report on Wednesday, November 1st. ValuEngine lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Provident Financial Services has an average rating of “Hold” and a consensus target price of $28.30.

Shares of Provident Financial Services (NYSE:PFS) traded up $0.03 during trading hours on Friday, hitting $28.03. 131,505 shares of the stock were exchanged, compared to its average volume of 242,114. The stock has a market capitalization of $1,870.00, a price-to-earnings ratio of 18.56, a PEG ratio of 1.65 and a beta of 0.97. Provident Financial Services has a fifty-two week low of $23.19 and a fifty-two week high of $28.76. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.19.

The firm also recently disclosed a special dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, December 7th. This represents a dividend yield of 3.01%. Provident Financial Services’s dividend payout ratio is presently 52.98%.

In other news, EVP Donald W. Blum sold 6,100 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $28.47, for a total transaction of $173,667.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Laura L. Brooks sold 4,075 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $25.99, for a total transaction of $105,909.25. Following the transaction, the director now owns 62,905 shares in the company, valued at $1,634,900.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,175 shares of company stock worth $690,186. Insiders own 2.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Provident Financial Services during the second quarter valued at approximately $118,000. Nisa Investment Advisors LLC boosted its stake in shares of Provident Financial Services by 66.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,990 shares of the savings and loans company’s stock valued at $135,000 after purchasing an additional 2,000 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Provident Financial Services by 170.1% during the third quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock valued at $160,000 after purchasing an additional 3,796 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Provident Financial Services by 1.5% during the second quarter. Amalgamated Bank now owns 8,387 shares of the savings and loans company’s stock valued at $213,000 after purchasing an additional 126 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in Provident Financial Services in the second quarter valued at approximately $251,000. Hedge funds and other institutional investors own 63.67% of the company’s stock.

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About Provident Financial Services

Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.

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Earnings History and Estimates for Provident Financial Services (NYSE:PFS)

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