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Provident Financial Services (NYSE:PFS) Releases Earnings Results, Misses Estimates By $0.13 EPS

Provident Financial Services logo with Finance background

Provident Financial Services (NYSE:PFS - Get Free Report) released its quarterly earnings data on Tuesday. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.13), Zacks reports. Provident Financial Services had a return on equity of 5.79% and a net margin of 10.13%.

Provident Financial Services Stock Down 0.1 %

NYSE PFS traded down $0.02 during mid-day trading on Friday, reaching $18.54. 314,165 shares of the company's stock traded hands, compared to its average volume of 588,078. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.02. Provident Financial Services has a 1-year low of $13.07 and a 1-year high of $22.24. The company has a fifty day simple moving average of $19.64 and a 200-day simple moving average of $19.02. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 17.70 and a beta of 1.08.

Provident Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.18%. The ex-dividend date is Friday, February 14th. Provident Financial Services's dividend payout ratio (DPR) is 91.43%.

Insider Activity

In other news, EVP James A. Christy sold 3,500 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $20.88, for a total value of $73,080.00. Following the sale, the executive vice president now owns 34,254 shares in the company, valued at approximately $715,223.52. This represents a 9.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.29% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com upgraded Provident Financial Services from a "sell" rating to a "hold" rating in a report on Wednesday. Hovde Group started coverage on Provident Financial Services in a research report on Friday, December 13th. They issued an "outperform" rating and a $25.00 target price for the company. Royal Bank of Canada dropped their target price on Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, DA Davidson upped their price target on Provident Financial Services from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Read Our Latest Research Report on PFS

Provident Financial Services Company Profile

(Get Free Report)

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.

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Earnings History for Provident Financial Services (NYSE:PFS)

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