Analysts expect Provident Financial Services, Inc. (NYSE: PFS) to report revenue of $ 113.40 million for the current fiscal quarter, according to Zacks investment research. Three analysts provided earnings estimates for Provident Financial Services, with the highest sales estimate at $ 118.80 million and the lowest estimate at $ 110.60 million. Provident Financial Services reported sales of $ 109.19 million in the same quarter last year, indicating a positive year-over-year growth rate of 3.9%. The company is expected to release its next earnings report on Friday, February 4.
Zacks says analysts expect Provident Financial Services to report annual revenue of $ 458.67 million for the current fiscal year, with estimates ranging from $ 448.90 million to $ 470.00 millions of dollars. For the next fiscal year, analysts predict the company will post sales of $ 460.27 million, with estimates ranging from $ 456.50 million to $ 464.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of seller-side analysts who provide coverage for Provident Financial Services.
Provident Financial Services (NYSE: PFS) last announced its quarterly earnings data on Thursday, October 28. The savings and loan company reported EPS of $ 0.49 for the quarter, beating analyst consensus estimates of $ 0.47 by $ 0.02. Provident Financial Services generated a net margin of 35.12% and a return on equity of 10.34%. The company posted revenue of $ 99.59 million in the quarter, compared to a consensus estimate of $ 113.23 million. In the same quarter of last year, the company posted $ 0.37 in EPS. The company’s quarterly revenue grew 6.6% year-over-year.
Separately, Zacks investment research raised Provident Financial Services shares from a “hold” rating to a “buy” rating and set a target price of $ 26.00 for the company in a report released on Friday, December 17.
Actions of PFS open at $ 24.29 on Mondays. The company has a 50-day moving average of $ 24.51 and a 200-day moving average of $ 23.31. Provident Financial Services has a one-year minimum of $ 17.50 and a one-year maximum of $ 25.98. The company has a market cap of $ 1.88 billion, a PE ratio of 10.89 and a beta of 0.98. The company has a leverage ratio of 0.41, a current ratio of 0.92, and a rapid ratio of 0.92.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 26. Shareholders of record on Friday, November 12 received a dividend of $ 0.24. The ex-dividend date of this dividend was Wednesday, November 10. This represents a dividend of $ 0.96 on an annualized basis and a return of 3.95%. This is an increase from Provident Financial Services’ previous quarterly dividend of $ 0.23. The payout ratio of Provident Financial Services is currently 43.05%.
Hedge funds and other institutional investors recently bought and sold shares in the company. Newbridge Financial Services Group Inc. increased its position in Provident Financial Services by 27.9% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,827 shares of the savings and loan company valued at $ 65,000 after purchasing an additional 616 shares in the last quarter. SG Americas Securities LLC acquired a new position in Provident Financial Services during the 3rd quarter for a value of approximately $ 146,000. Teacher Retirement System of Texas acquired a new position in Provident Financial Services during the 2nd quarter valued at approximately $ 204,000. CIBC Asset Management Inc. acquired a new position in Provident Financial Services during the third quarter valued at approximately $ 207,000. Finally, Profund Advisors LLC strengthened its position in Provident Financial Services by 7.6% during the second quarter. Profund Advisors LLC now owns 9,984 shares of the savings and loan company valued at $ 229,000 after purchasing an additional 701 shares in the last quarter. 61.39% of the shares are held by hedge funds and other institutional investors.
About provident financial services
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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