Provident Financial Services (NYSE:PFS) Announces Quarterly Earnings Results

Provident Financial Services (NYSE:PFS) announced its quarterly earnings data on Tuesday. The savings and loans company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08, Zacks reports. Provident Financial Services had a return on equity of 9.62% and a net margin of 18.76%.

Provident Financial Services Price Performance

Shares of Provident Financial Services stock traded up $0.22 during midday trading on Tuesday, reaching $20.81. The company had a trading volume of 1,042,016 shares, compared to its average volume of 876,498. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 10.62 and a beta of 0.85. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $20.02 and a 200 day simple moving average of $19.37. Provident Financial Services has a 1-year low of $14.34 and a 1-year high of $21.71.

Provident Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, November 14th. Provident Financial Services’s dividend payout ratio is presently 48.98%.

Provident Financial Services News Roundup

Here are the key news stories impacting Provident Financial Services this week:

• Positive Sentiment: Q4 results beat expectations — Provident reported EPS of $0.64 vs. consensus $0.56, with net income of $83.4M, improved sequential and year-over-year profitability, a net margin ~18.8% and ROE ~9.6% (signals stronger earnings momentum). Q4 Earnings Release
• Positive Sentiment: Board authorized a tenth share repurchase program (up to ~2.81M shares, ~2.15% of outstanding) to begin after the current program completes — buybacks reduce share count and typically support the stock and signal management confidence in capital strength. Repurchase Authorization
• Neutral Sentiment: Repurchase program details are flexible — no expiration date and purchases will depend on market, capital and regulatory considerations, so the timing/scale of actual buybacks is uncertain. Repurchase Program Details
• Neutral Sentiment: Company announced Q4/full-year results and the annual meeting date (administrative item; useful for shareholders but not a direct price catalyst). Earnings & Annual Meeting
• Negative Sentiment: Recent insider selling (multiple executive sales reported over the past six months) could be seen as a mild negative signal to some investors, though company buybacks and earnings strength offset this for many market participants. Insider Trading / Repurchase Coverage

Provident Financial Services announced that its Board of Directors has authorized a share repurchase plan on Monday, January 26th that authorizes the company to repurchase $2.81 million in shares. This repurchase authorization authorizes the savings and loans company to buy up to 0.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Provident Financial Services

In related news, CEO George Lista sold 8,262 shares of Provident Financial Services stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $18.35, for a total value of $151,607.70. Following the completion of the sale, the chief executive officer directly owned 108,656 shares in the company, valued at $1,993,837.60. This trade represents a 7.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Provident Financial Services

Hedge funds have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC grew its holdings in shares of Provident Financial Services by 4.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 24,997 shares of the savings and loans company’s stock valued at $438,000 after acquiring an additional 1,123 shares in the last quarter. Glenmede Investment Management LP boosted its holdings in shares of Provident Financial Services by 8.1% during the third quarter. Glenmede Investment Management LP now owns 15,784 shares of the savings and loans company’s stock worth $304,000 after acquiring an additional 1,187 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Provident Financial Services by 358.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the savings and loans company’s stock valued at $27,000 after buying an additional 1,210 shares in the last quarter. California State Teachers Retirement System increased its position in Provident Financial Services by 1.0% during the second quarter. California State Teachers Retirement System now owns 120,303 shares of the savings and loans company’s stock worth $2,109,000 after acquiring an additional 1,242 shares during the period. Finally, Aquatic Capital Management LLC increased its holdings in shares of Provident Financial Services by 28.0% during the third quarter. Aquatic Capital Management LLC now owns 13,629 shares of the savings and loans company’s stock worth $263,000 after purchasing an additional 2,978 shares during the period. Institutional investors and hedge funds own 71.97% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research downgraded shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. DA Davidson lowered shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Provident Financial Services in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.70.

Provident Financial Services Company Profile

Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.

Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.