Wall Street analysts expect that Provident Financial Services, Inc. (NYSE:PFS) will announce sales of $89.09 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Provident Financial Services’ earnings, with the lowest sales estimate coming in at $88.60 million and the highest estimate coming in at $89.57 million. Provident Financial Services reported sales of $85.32 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.4%. The company is expected to announce its next quarterly earnings results before the market opens on Friday, October 26th.

According to Zacks, analysts expect that Provident Financial Services will report full-year sales of $354.02 million for the current financial year, with estimates ranging from $353.30 million to $354.56 million. For the next year, analysts anticipate that the business will report sales of $373.96 million, 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 analysts that cover Provident Financial Services.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Friday, July 27th. The savings and loans company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.15). Provident Financial Services had a net margin of 23.56% and a return on equity of 7.46%. The business had revenue of $88.12 million for the quarter, compared to analysts’ expectations of $87.99 million. During the same period in the prior year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the company. ValuEngine lowered Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Sandler O’Neill lowered Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. They noted that the move was a valuation call. Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a research report on Friday, July 27th. Zacks Investment Research lowered Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $25.50 target price on shares of Provident Financial Services in a research report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.25.

Shares of Provident Financial Services stock traded down $0.17 during trading hours on Friday, hitting $23.17. 107,700 shares of the company’s stock traded hands, compared to its average volume of 155,186. Provident Financial Services has a 12-month low of $22.81 and a 12-month high of $29.12. The firm has a market cap of $1.59 billion, a PE ratio of 15.39, a P/E/G ratio of 1.80 and a beta of 0.79. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.10 and a quick ratio of 1.10.

In other news, Director Matthew K. Harding acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was bought at an average price of $25.73 per share, with a total value of $25,730.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP increased its holdings in Provident Financial Services by 16.7% in the 1st quarter. GSA Capital Partners LLP now owns 17,363 shares of the savings and loans company’s stock worth $444,000 after acquiring an additional 2,491 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in Provident Financial Services by 25.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 13,774 shares of the savings and loans company’s stock valued at $352,000 after buying an additional 2,800 shares in the last quarter. Rhumbline Advisers grew its holdings in Provident Financial Services by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 153,787 shares of the savings and loans company’s stock valued at $4,234,000 after buying an additional 3,147 shares in the last quarter. Aperio Group LLC grew its holdings in Provident Financial Services by 18.0% during the 2nd quarter. Aperio Group LLC now owns 22,797 shares of the savings and loans company’s stock valued at $628,000 after buying an additional 3,484 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Provident Financial Services by 0.8% during the 1st quarter. Principal Financial Group Inc. now owns 466,231 shares of the savings and loans company’s stock valued at $11,931,000 after buying an additional 3,576 shares in the last quarter. 65.33% of the stock is owned by institutional investors.

About Provident Financial Services

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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Earnings History and Estimates for Provident Financial Services (NYSE:PFS)

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