Equities analysts expect Provident Financial Services, Inc. (NYSE:PFS) to report sales of $91.04 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Provident Financial Services’ earnings. The highest sales estimate is $91.70 million and the lowest is $90.62 million. Provident Financial Services posted sales of $88.12 million in the same quarter last year, which indicates a positive year over year growth rate of 3.3%. The business is scheduled to announce its next quarterly earnings report before the market opens on Friday, July 26th.
On average, analysts expect that Provident Financial Services will report full-year sales of $363.11 million for the current year, with estimates ranging from $360.50 million to $364.63 million. For the next fiscal year, analysts forecast that the firm will post sales of $378.26 million, with estimates ranging from $373.80 million to $380.90 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Provident Financial Services.
Provident Financial Services (NYSE:PFS) last released its quarterly earnings data on Friday, April 26th. The savings and loans company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. The company had revenue of $87.20 million during the quarter, compared to the consensus estimate of $90.53 million. Provident Financial Services had a net margin of 28.66% and a return on equity of 9.03%. During the same quarter in the prior year, the firm earned $0.43 EPS.
In other news, EVP Brian Giovinazzi sold 7,964 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $24.10, for a total transaction of $191,932.40. Following the completion of the sale, the executive vice president now owns 102,528 shares in the company, valued at approximately $2,470,924.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlos Hernandez sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $23.52, for a total transaction of $70,560.00. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PFS. Raymond James & Associates raised its position in shares of Provident Financial Services by 7.6% in the 4th quarter. Raymond James & Associates now owns 11,494 shares of the savings and loans company’s stock worth $277,000 after acquiring an additional 809 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Provident Financial Services in the 4th quarter worth approximately $251,000. Great West Life Assurance Co. Can raised its position in shares of Provident Financial Services by 5.2% in the 4th quarter. Great West Life Assurance Co. Can now owns 84,971 shares of the savings and loans company’s stock worth $1,894,000 after acquiring an additional 4,217 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Provident Financial Services by 11.2% in the 4th quarter. Geode Capital Management LLC now owns 678,312 shares of the savings and loans company’s stock worth $16,367,000 after acquiring an additional 68,448 shares in the last quarter. Finally, Brinker Capital Inc. raised its position in shares of Provident Financial Services by 10.5% in the 4th quarter. Brinker Capital Inc. now owns 12,539 shares of the savings and loans company’s stock worth $303,000 after acquiring an additional 1,193 shares in the last quarter. Institutional investors and hedge funds own 64.81% of the company’s stock.
PFS stock traded down $0.02 during mid-day trading on Thursday, reaching $24.61. The company’s stock had a trading volume of 180,618 shares, compared to its average volume of 184,102. The stock has a market cap of $1.64 billion, a PE ratio of 13.52, a PEG ratio of 1.62 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. Provident Financial Services has a fifty-two week low of $22.22 and a fifty-two week high of $28.15. The company’s 50 day moving average price is $24.08.
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. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA, and KEOGH products.
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