Stock analysts expect Provident Financial Services, Inc. (NYSE: PFS) to report revenue of $ 110.57 million for the current quarter, according to Zacks Investment Research. Three analysts provided earnings estimates for Provident Financial Services, with the highest sales estimate at $ 113.20 million and the lowest estimate at $ 108.40 million. Provident Financial Services reported sales of $ 102.61 million in the same quarter last year, suggesting a positive year-over-year growth rate of 7.8%. The company is expected to release its next earnings report on Friday, October 29.
On average, analysts expect Provident Financial Services to report annual revenue of $ 454.43 million for the current year, with estimates ranging from $ 442.90 million to $ 467.10 million. millions of dollars. For the next fiscal year, analysts expect the company to report revenue of $ 453.67 million, with estimates ranging from $ 443.60 million to $ 463.30 million. Zacks’ sales calculations are an average based on a survey of seller-side research analysts who track Provident Financial Services.
Provident Financial Services (NYSE: PFS) last released its quarterly results on Thursday, July 29. The savings and loan company reported EPS of $ 0.58 for the quarter, beating analysts’ consensus estimates of $ 0.45 by $ 0.13. Provident Financial Services posted a net margin of 33.66% and a return on equity of 9.84%. The company posted revenue of $ 112.06 million for the quarter, compared to analysts’ expectations of $ 111.23 million. During the same period last year, the company made earnings per share of $ 0.22. The company’s quarterly revenue increased 33.1% year-over-year.
A number of analysts have weighed in on the company recently. Zacks Investment Research upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a price target of $ 24.00 for the company in a research note on Wednesday, August 4. Barclays reissued an “overweight” rating on Provident Financial Services shares in a research note on Thursday, August 12. Two equity research analysts rated the stock with a conservation rating and four gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of âBuyâ and an average price target of $ 21.67.
In other news from Provident Financial Services, Executive Vice President Vito Giannola sold 10,000 shares in a trade on Wednesday, August 25. The stock was sold for an average price of $ 22.18, for a total value of $ 221,800.00. Following the closing of the transaction, the Executive Vice President now owns 96,832 shares of the company, valued at $ 2,147,733.76. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. In addition, director Edward J. Leppert sold 20,000 shares in a trade on Friday June 4. The stock was sold for an average price of $ 25.17, for a total value of $ 503,400.00. Following the closing of the transaction, the Director now owns 68,010 shares of the company, valued at approximately $ 1,711,811.70. Disclosure of this sale can be found here. Company insiders own 3.96% of the company’s shares.
A number of institutional investors and hedge funds have recently bought and sold shares of PFS. American Century Companies Inc. increased its holdings in Provident Financial Services by 1,453.9% in the second quarter. American Century Companies Inc. now owns 1,387,400 shares of the savings and loan company valued at $ 31,758,000 after purchasing an additional 1,298,115 shares in the last quarter. BlackRock Inc. increased its holdings of shares of Provident Financial Services by 2.1% in the first quarter. BlackRock Inc. now owns 11,412,065 shares of the savings and loan company valued at $ 254,260,000 after acquiring an additional 236,714 shares during the last quarter. Vanguard Group Inc. increased its holdings of shares of Provident Financial Services by 3.1% in the second quarter. Vanguard Group Inc. now owns 7,826,843 shares of the savings and loan company valued at $ 179,157,000 after acquiring an additional 235,040 shares in the last quarter. State Street Corp increased its holdings of shares of Provident Financial Services by 6.1% in the second quarter. State Street Corp now owns 3,150,729 shares of the savings and loan company valued at $ 72,120,000 after acquiring an additional 181,143 shares in the last quarter. Finally, Northern Trust Corp increased its holdings of Provident Financial Services shares by 22.5% during the second quarter. Northern Trust Corp now owns 971,751 shares of the savings and loan company valued at $ 22,244,000 after acquiring an additional 178,529 shares in the last quarter. Institutional investors and hedge funds hold 58.73% of the company’s shares.
NYSE: PFS opened at $ 21.90 on Thursday. The company has a market cap of $ 1.71 billion, a PE ratio of 10.38 and a beta of 1.04. Provident Financial Services has a 52 week low of $ 11.76 and a 52 week high of $ 25.70. The company has a leverage ratio of 0.45, a quick ratio of 0.96, and a current ratio of 0.96. The company has a 50-day moving average price of $ 22.07 and a 200-day moving average price of $ 22.85.
The company also recently declared a quarterly dividend, which was paid on Friday, August 27. Investors of record on Friday August 13 received a dividend of $ 0.23. This represents a dividend of $ 0.92 on an annualized basis and a return of 4.20%. The ex-dividend date of this dividend was Thursday, August 12. The payout ratio of Provident Financial Services is 66.19%.
Profile of the provident financial services company
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, NJ.
Featured story: what does it take to own or trade cryptocurrency?
Get a free copy of Zacks’ Financial Provident Services (PFS) Research Report
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in Provident Financial Services now?
Before you consider Provident Financial Services, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold ofâ¦ and Provident Financial Services was not on the list.
Although Provident Financial Services currently has a âBuyâ rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here