$89.09 Million in Sales Expected for Provident Financial Services, Inc. (PFS) This Quarter
Equities research analysts forecast that Provident Financial Services, Inc. (NYSE:PFS) will announce sales of $89.09 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Provident Financial Services’ earnings, with the highest sales estimate coming in at $89.57 million and the lowest estimate coming in at $88.60 million. Provident Financial Services reported sales of $85.32 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.4%. The business is scheduled to issue its next quarterly earnings results on Friday, October 26th.
On average, analysts expect that Provident Financial Services will report full-year sales of $354.02 million for the current fiscal year, with estimates ranging from $353.30 million to $354.56 million. For the next financial year, analysts anticipate that the firm will post sales of $373.96 million per share, with estimates ranging from $372.00 million to $376.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Provident Financial Services.
Provident Financial Services (NYSE:PFS) last posted its quarterly earnings data on Friday, July 27th. The savings and loans company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). The firm had revenue of $88.12 million for the quarter, compared to analysts’ expectations of $87.99 million. Provident Financial Services had a net margin of 23.56% and a return on equity of 7.46%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 EPS.
NYSE:PFS traded down $0.13 during mid-day trading on Monday, hitting $24.85. 2,863 shares of the company traded hands, compared to its average volume of 137,689. Provident Financial Services has a one year low of $23.26 and a one year high of $29.12. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $1.70 billion, a PE ratio of 16.41, a P/E/G ratio of 1.92 and a beta of 0.78.
The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Tuesday, August 14th. This is a positive change from Provident Financial Services’s previous quarterly dividend of $0.20. Provident Financial Services’s payout ratio is currently 55.26%.
In other Provident Financial Services news, Director Matthew K. Harding acquired 1,000 shares of the company’s stock in a transaction dated Friday, August 3rd. The stock was purchased at an average price of $25.73 per share, with a total value of $25,730.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFS. Asset Management One Co. Ltd. bought a new position in shares of Provident Financial Services in the first quarter worth about $129,000. Itau Unibanco Holding S.A. bought a new position in shares of Provident Financial Services in the second quarter worth about $143,000. KBC Group NV bought a new position in shares of Provident Financial Services in the second quarter worth about $174,000. NEXT Financial Group Inc bought a new position in shares of Provident Financial Services in the first quarter worth about $208,000. Finally, SG Americas Securities LLC bought a new position in shares of Provident Financial Services in the first quarter worth about $228,000. 65.15% 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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