Provident Financial Services (PFS) Scheduled to Post Earnings on Tuesday

Provident Financial Services (NYSE:PFS - Get Free Report) is set to issue its quarterly earnings data after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.46 per share for the quarter. Parties that are interested in participating in the company's conference call can do so using this link.

Provident Financial Services (NYSE:PFS - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The savings and loans company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.39). The firm had revenue of $141.51 million during the quarter, compared to analyst estimates of $148.60 million. Provident Financial Services had a net margin of 9.38% and a return on equity of 4.95%. The firm's revenue for the quarter was up 42.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. On average, analysts expect Provident Financial Services to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Provident Financial Services Stock Performance

Shares of PFS stock traded up $0.18 during mid-day trading on Tuesday, reaching $18.79. The stock had a trading volume of 382,540 shares, compared to its average volume of 904,596. The business's fifty day moving average is $18.46 and its 200-day moving average is $16.40. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.08. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 17.73 and a beta of 1.03. Provident Financial Services has a 1-year low of $13.07 and a 1-year high of $19.97.

Provident Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date was Friday, August 16th. Provident Financial Services's dividend payout ratio is presently 90.57%.

Analyst Upgrades and Downgrades

PFS has been the topic of a number of research reports. Keefe, Bruyette & Woods raised Provident Financial Services from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $20.00 to $21.00 in a report on Thursday, August 15th. Royal Bank of Canada upped their target price on Provident Financial Services from $18.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, July 29th. Finally, StockNews.com downgraded Provident Financial Services from a "hold" rating to a "sell" rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.67.

Insiders Place Their Bets

In other Provident Financial Services news, EVP Vito Giannola sold 5,499 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $18.09, for a total transaction of $99,476.91. Following the transaction, the executive vice president now owns 88,656 shares in the company, valued at approximately $1,603,787.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.29% of the stock is currently owned by company insiders.

Provident Financial Services Company Profile

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and 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 products.