Provident Financial Services, Inc. (NYSE:PFS) Expected to Post Quarterly Sales of $118.40 Million

Stock analysts expect Provident Financial Services, Inc. (NYSE:PFS – Get Rating) to post sales of $118.40 million for the current quarter, according to Zacks Investment Research. Three analysts made earnings estimates for Provident Financial Services. The lowest sales estimate is $117.00 million and the highest is $120.50 million. Provident Financial Services reported sales of $112.06 million in the same quarter last year, indicating a positive year-over-year growth rate of 5.7%. The company is due to release its next quarterly earnings report on Monday, January 1.

On average, analysts expect Provident Financial Services to report annual revenue of $479.03 million for the current year, with estimates ranging from $474.50 to $485.10 million. . For next year, analysts expect the company to post sales of $520.30 million, with estimates ranging from $512.30 to $527.90 million. Zacks Investment Research sales calculations are an average average based on a survey of research firms that track Provident Financial Services.

Provident Financial Services (NYSE:PFS – Get Rating) last released its results on Friday, April 29. The savings and loan company reported earnings per share of $0.58 for the quarter, beating the consensus estimate of $0.47 by $0.11. Provident Financial Services achieved a return on equity of 9.79% and a net margin of 33.46%. The company posted revenue of $114.67 million in the quarter, versus a consensus estimate of $115.10 million. During the same period of the previous year, the company achieved EPS of $0.63.

Separately, began covering Provident Financials in a Thursday, March 31 report. They issued a “hold” rating for the company.

In other news from Provident Financial Services, CEO George Lista sold 3,000 shares of the company in a trade that took place on Tuesday, May 17. The stock was sold at an average price of $22.15, for a total transaction of $66,450.00. Following the completion of the sale, the CEO now directly owns 103,873 shares of the company, valued at approximately $2,300,786.95. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. 4.26% of the shares are held by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. increased its stake in Provident Financial Services by 35.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,785 shares of the savings and loan company valued at $42,000 after acquiring 470 additional shares in the last quarter. KBC Group NV increased its position in Provident Financial Services by 97.3% during the 1st quarter. KBC Group NV now owns 7,597 shares in the savings and loan company worth $178,000 after purchasing an additional 3,746 shares during the period. Profund Advisors LLC acquired a new position in Provident Financial Services during Q1 worth approximately $201,000. Midwest Professional Planners LTD. acquired a new position in Provident Financial Services during Q1 worth approximately $202,000. Finally, Aigen Investment Management LP acquired a new position in Provident Financial Services during Q1 worth approximately $216,000. 63.82% of the shares are held by hedge funds and other institutional investors.

Shares of Provident Financial Services opened at $22.23 on Friday. Provident Financial Services has a fifty-two week minimum of $20.86 and a fifty-two week maximum of $26.20. The company has a debt ratio of 0.28, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $1.68 billion, a P/E ratio of 10.39 and a beta of 0.91. The stock has a 50-day simple moving average of $22.46 and a 200-day simple moving average of $23.50.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Friday, May 13 received a dividend of $0.24 per share. This represents an annualized dividend of $0.96 and a yield of 4.32%. The ex-dividend date was Thursday, May 12. Provident Financial Services’ dividend payout ratio is currently 44.86%.

Provident financial services company profile (Get a rating)

Provident Financial Services, Inc. operates as a bank holding company for Provident Bank which provides various personal, family and business banking products and services in the United States. The Company’s deposit products include savings, checks, interest-bearing checks, money market deposits and certificates of deposit accounts, as well as IRA products.

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