Wall Street analysts forecast that Provident Financial Services, Inc. (NYSE:PFS) will announce earnings of $0.46 per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Provident Financial Services’ earnings. The highest EPS estimate is $0.46 and the lowest is $0.45. Provident Financial Services reported earnings per share of $0.41 during the same quarter last year, which would suggest a positive year over year growth rate of 12.2%. The firm is scheduled to report its next earnings report on Friday, October 26th.

According to Zacks, analysts expect that Provident Financial Services will report full-year earnings of $1.64 per share for the current year, with EPS estimates ranging from $1.64 to $1.65. For the next financial year, analysts forecast that the firm will post earnings of $1.74 per share, with EPS estimates ranging from $1.72 to $1.75. Zacks’ EPS averages are an average based on a survey of analysts that cover Provident Financial Services.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, July 27th. The savings and loans company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). Provident Financial Services had a return on equity of 7.46% and a net margin of 23.56%. The business had revenue of $88.12 million for the quarter, compared to analysts’ expectations of $87.99 million. During the same period in the prior year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year.

A number of equities analysts have issued reports on the stock. Piper Jaffray Companies reissued a “hold” rating and set a $25.50 price target on shares of Provident Financial Services in a research report on Wednesday, August 1st. Zacks Investment Research cut shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, June 28th. Sandler O’Neill reaffirmed a “hold” rating on shares of Provident Financial Services in a research note on Thursday, June 28th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Provident Financial Services has a consensus rating of “Hold” and a consensus target price of $28.60.

In other news, Director James P. Dunigan acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, July 31st. The shares were acquired at an average price of $25.49 per share, with a total value of $25,490.00. Following the purchase, the director now directly owns 4,926 shares of the company’s stock, valued at $125,563.74. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carlos Hernandez sold 3,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $27.93, for a total transaction of $100,548.00. The disclosure for this sale can be found here. Insiders have bought a total of 2,800 shares of company stock worth $73,948 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in PFS. Asset Management One Co. Ltd. acquired a new stake in Provident Financial Services in the 1st quarter valued at $129,000. Itau Unibanco Holding S.A. acquired a new stake in Provident Financial Services in the 2nd quarter valued at $143,000. KBC Group NV acquired a new stake in Provident Financial Services in the 2nd quarter valued at $174,000. NEXT Financial Group Inc acquired a new stake in Provident Financial Services in the 1st quarter valued at $208,000. Finally, SG Americas Securities LLC acquired a new stake in Provident Financial Services in the 1st quarter valued at $228,000. 65.15% of the stock is currently owned by hedge funds and other institutional investors.

PFS traded down $0.01 during trading on Friday, reaching $25.27. 125,881 shares of the company’s stock were exchanged, compared to its average volume of 144,209. Provident Financial Services has a 1 year low of $23.26 and a 1 year high of $29.12. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $1.70 billion, a PE ratio of 16.63, a P/E/G ratio of 1.92 and a beta of 0.78.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th were paid a dividend of $0.21 per share. This is a boost from Provident Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.32%. Provident Financial Services’s dividend payout ratio (DPR) is presently 55.26%.

About Provident Financial Services

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.

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

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