Equities analysts predict that Provident Financial Services, Inc. (NYSE:PFS) will post earnings per share of $0.48 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Provident Financial Services’ earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.48. Provident Financial Services reported earnings per share of $0.36 during the same quarter last year, which would indicate a positive year over year growth rate of 33.3%. The company is expected to announce its next quarterly earnings results on Friday, January 25th.
According to Zacks, analysts expect that Provident Financial Services will report full-year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.75 to $1.76. For the next fiscal year, analysts forecast that the firm will report earnings of $1.84 per share, with EPS estimates ranging from $1.78 to $1.88. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for 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 (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.08. Provident Financial Services had a net margin of 25.16% and a return on equity of 8.09%. The company had revenue of $91.70 million for the quarter, compared to analyst estimates of $89.09 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share.
Large investors have recently modified their holdings of the stock. Legal & General Group Plc grew its stake in Provident Financial Services by 5.8% during the second quarter. Legal & General Group Plc now owns 131,940 shares of the savings and loans company’s stock valued at $3,646,000 after acquiring an additional 7,266 shares in the last quarter. Aperio Group LLC grew its stake in Provident Financial Services by 18.0% in the 2nd quarter. Aperio Group LLC now owns 22,797 shares of the savings and loans company’s stock worth $628,000 after buying an additional 3,484 shares in the last quarter. California Public Employees Retirement System grew its stake in Provident Financial Services by 3.4% in the 2nd quarter. California Public Employees Retirement System now owns 214,035 shares of the savings and loans company’s stock worth $5,892,000 after buying an additional 6,960 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Provident Financial Services by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 971,668 shares of the savings and loans company’s stock worth $26,750,000 after buying an additional 4,041 shares in the last quarter. Finally, KBC Group NV purchased a new position in Provident Financial Services in the 2nd quarter worth approximately $174,000. 65.12% of the stock is owned by institutional investors.
NYSE PFS opened at $25.19 on Monday. Provident Financial Services has a 12-month low of $22.22 and a 12-month high of $29.12. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.10 and a current ratio of 1.09. The company has a market capitalization of $1.70 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 1.81 and a beta of 0.64.
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 paid 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 currently 55.26%.
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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