Analysts expect Provident Financial Services, Inc. (NYSE:PFS) to report sales of $89.69 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Provident Financial Services’ earnings, with the highest sales estimate coming in at $89.86 million and the lowest estimate coming in at $89.40 million. Provident Financial Services reported sales of $85.20 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.3%. The firm is expected to report its next quarterly earnings report on Friday, January 25th.
According to Zacks, analysts expect that Provident Financial Services will report full year sales of $355.85 million for the current fiscal year, with estimates ranging from $355.10 million to $356.26 million. For the next financial year, analysts expect that the company will post sales of $369.82 million, with estimates ranging from $365.00 million to $374.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Provident Financial Services.
Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, October 26th. The savings and loans company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.08. Provident Financial Services had a return on equity of 8.09% and a net margin of 25.16%. The firm had revenue of $91.70 million for the quarter, compared to the consensus estimate of $89.09 million. During the same period in the previous year, the business earned $0.41 earnings per share.
Provident Financial Services stock opened at $25.19 on Wednesday. The company has a market capitalization of $1.70 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.81 and a beta of 0.64. Provident Financial Services has a 1-year low of $22.22 and a 1-year high of $29.12. The company has a current ratio of 1.09, a quick ratio of 1.10 and a debt-to-equity ratio of 1.17.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.33%. Provident Financial Services’s dividend payout ratio is presently 55.26%.
A number of hedge funds have recently modified their holdings of PFS. BlackRock Inc. raised its holdings in Provident Financial Services by 5.9% during the second quarter. BlackRock Inc. now owns 8,551,844 shares of the savings and loans company’s stock worth $235,435,000 after purchasing an additional 477,216 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its holdings in Provident Financial Services by 14.8% during the third quarter. Dalton Greiner Hartman Maher & Co. now owns 971,229 shares of the savings and loans company’s stock worth $23,844,000 after purchasing an additional 125,218 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Provident Financial Services by 7.2% during the second quarter. Renaissance Technologies LLC now owns 1,256,400 shares of the savings and loans company’s stock worth $34,589,000 after purchasing an additional 83,900 shares during the last quarter. Northern Trust Corp raised its holdings in Provident Financial Services by 3.3% during the second quarter. Northern Trust Corp now owns 2,518,716 shares of the savings and loans company’s stock worth $69,340,000 after purchasing an additional 79,918 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Provident Financial Services during the third quarter worth $1,644,000. 65.12% of the stock is owned by hedge funds and other institutional investors.
Provident Financial Services Company Profile
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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