Provident Financial Services (NYSE:PFS) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Provident Financial Services (NYSE:PFS) released its earnings results on Tuesday. The savings and loans company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.08, Zacks reports. Provident Financial Services had a return on equity of 9.62% and a net margin of 18.76%.

Provident Financial Services Stock Performance

Shares of NYSE:PFS traded up $0.22 during trading on Tuesday, hitting $20.81. 1,042,956 shares of the stock traded hands, compared to its average volume of 877,507. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average price of $20.02 and a two-hundred day moving average price of $19.37. Provident Financial Services has a 52-week low of $14.34 and a 52-week high of $21.71. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 10.62 and a beta of 0.85.

Provident Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Friday, November 14th. Provident Financial Services’s dividend payout ratio is presently 48.98%.

Provident Financial Services announced that its Board of Directors has approved a share repurchase program on Monday, January 26th that authorizes the company to repurchase $2.81 million in outstanding shares. This repurchase authorization authorizes the savings and loans company to buy up to 0.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. DA Davidson downgraded shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Zacks Research downgraded shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Provident Financial Services in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.70.

Insider Buying and Selling at Provident Financial Services

In related news, CEO George Lista sold 8,262 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $18.35, for a total value of $151,607.70. Following the completion of the transaction, the chief executive officer owned 108,656 shares of the company’s stock, valued at approximately $1,993,837.60. This represents a 7.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Provident Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC raised its stake in shares of Provident Financial Services by 4.7% during the second quarter. EP Wealth Advisors LLC now owns 24,997 shares of the savings and loans company’s stock valued at $438,000 after purchasing an additional 1,123 shares in the last quarter. Quantinno Capital Management LP grew its position in Provident Financial Services by 9.7% in the second quarter. Quantinno Capital Management LP now owns 36,756 shares of the savings and loans company’s stock worth $644,000 after buying an additional 3,252 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Provident Financial Services in the second quarter valued at $383,000. Royal Bank of Canada lifted its holdings in shares of Provident Financial Services by 23.9% during the first quarter. Royal Bank of Canada now owns 44,106 shares of the savings and loans company’s stock valued at $758,000 after purchasing an additional 8,507 shares during the last quarter. Finally, Oxford Asset Management LLP acquired a new stake in shares of Provident Financial Services in the second quarter worth $265,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.

Key Stories Impacting Provident Financial Services

Here are the key news stories impacting Provident Financial Services this week:

• Positive Sentiment: Q4 results beat expectations — Provident reported EPS of $0.64 vs. consensus $0.56, with net income of $83.4M, improved sequential and year-over-year profitability, a net margin ~18.8% and ROE ~9.6% (signals stronger earnings momentum). Q4 Earnings Release
• Positive Sentiment: Board authorized a tenth share repurchase program (up to ~2.81M shares, ~2.15% of outstanding) to begin after the current program completes — buybacks reduce share count and typically support the stock and signal management confidence in capital strength. Repurchase Authorization
• Neutral Sentiment: Repurchase program details are flexible — no expiration date and purchases will depend on market, capital and regulatory considerations, so the timing/scale of actual buybacks is uncertain. Repurchase Program Details
• Neutral Sentiment: Company announced Q4/full-year results and the annual meeting date (administrative item; useful for shareholders but not a direct price catalyst). Earnings & Annual Meeting
• Negative Sentiment: Recent insider selling (multiple executive sales reported over the past six months) could be seen as a mild negative signal to some investors, though company buybacks and earnings strength offset this for many market participants. Insider Trading / Repurchase Coverage

About Provident Financial Services

Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.

Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.