Equities research analysts expect Provident Financial Services, Inc (NYSE:PFS) to post sales of $83.84 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Provident Financial Services’ earnings, with the lowest sales estimate coming in at $82.79 million and the highest estimate coming in at $84.88 million. Provident Financial Services posted sales of $79.04 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The business is scheduled to issue its next earnings report on Friday, October 27th.

According to Zacks, analysts expect that Provident Financial Services will report full-year sales of $83.84 million for the current financial year, with estimates ranging from $331.14 million to $335.00 million. For the next fiscal year, analysts forecast that the business will post sales of $352.80 million per share, with estimates ranging from $347.38 million to $358.22 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Provident Financial Services.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Friday, July 28th. The savings and loans company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Provident Financial Services had a return on equity of 7.40% and a net margin of 25.39%. The business had revenue of $83.87 million during the quarter, compared to analysts’ expectations of $81.24 million. During the same period in the prior year, the business earned $0.34 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on the company. BidaskClub raised Provident Financial Services from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Sandler O’Neill raised Provident Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $25.50 price objective on shares of Provident Financial Services in a research note on Friday, July 14th. ValuEngine cut Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Provident Financial Services currently has a consensus rating of “Hold” and an average price target of $26.58.

Shares of Provident Financial Services (PFS) traded up 0.25% during midday trading on Wednesday, hitting $24.20. The company’s stock had a trading volume of 62,988 shares. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 16.69 and a beta of 1.00. The firm has a 50-day moving average of $25.26 and a 200 day moving average of $25.29. Provident Financial Services has a 12-month low of $20.53 and a 12-month high of $28.92.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 11th. This is a boost from Provident Financial Services’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.31%. Provident Financial Services’s payout ratio is presently 54.79%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System grew its stake in shares of Provident Financial Services by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the savings and loans company’s stock valued at $627,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Provident Financial Services by 0.3% in the second quarter. Arizona State Retirement System now owns 31,618 shares of the savings and loans company’s stock valued at $802,000 after buying an additional 100 shares in the last quarter. Amalgamated Bank grew its stake in shares of Provident Financial Services by 1.5% in the second quarter. Amalgamated Bank now owns 8,387 shares of the savings and loans company’s stock valued at $213,000 after buying an additional 126 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Provident Financial Services by 0.5% in the first quarter. PNC Financial Services Group Inc. now owns 24,995 shares of the savings and loans company’s stock valued at $647,000 after buying an additional 135 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Provident Financial Services by 0.3% in the first quarter. Jennison Associates LLC now owns 48,666 shares of the savings and loans company’s stock valued at $1,258,000 after buying an additional 150 shares in the last quarter. 61.61% of the stock is owned by institutional investors and hedge funds.

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Provident Financial Services Company Profile

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.

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