Provident Financial Services, Inc (NYSE:PFS) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Provident Financial Services, Inc (NYSE:PFS) announced its quarterly earnings results on Friday. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02, Briefing.com reports. Provident Financial Services had a net margin of 25.02% and a return on equity of 7.24%. The company had revenue of $83.87 million for the quarter, compared to analysts’ expectations of $81.24 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. Provident Financial Services’s quarterly revenue was up 7.9% on a year-over-year basis.
Shares of Provident Financial Services (NYSE PFS) traded up 1.20% during trading on Friday, hitting $26.05. 145,769 shares of the company traded hands. Provident Financial Services has a 52 week low of $19.99 and a 52 week high of $28.92. The company has a 50 day moving average price of $25.29 and a 200 day moving average price of $25.60. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 17.97 and a beta of 0.98.
PFS has been the topic of several research analyst reports. ValuEngine upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, June 8th. BidaskClub cut shares of Provident Financial Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Zacks Investment Research cut shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Sandler O’Neill upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $25.50 price target on shares of Provident Financial Services in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Provident Financial Services currently has a consensus rating of “Hold” and an average target price of $25.90.
In other Provident Financial Services news, Director Carlos Hernandez sold 2,650 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $24.56, for a total transaction of $65,084.00. Following the transaction, the director now owns 81,408 shares of the company’s stock, valued at approximately $1,999,380.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.90% of the company’s stock.
About Provident Financial Services
Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.
Receive News & Ratings for Provident Financial Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.