Wall Street brokerages expect Provident Financial Services, Inc. (NYSE:PFS) to post $89.69 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Provident Financial Services’ earnings, with the highest sales estimate coming in at $89.86 million and the lowest estimate coming in at $89.40 million. Provident Financial Services reported sales of $85.20 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.3%. The business is expected to report its next quarterly earnings report before the market opens on Friday, February 1st.

According to Zacks, analysts expect that Provident Financial Services will report full-year sales of $355.85 million for the current year, with estimates ranging from $355.10 million to $356.26 million. For the next fiscal year, analysts anticipate that the business will report sales of $369.82 million, with estimates ranging from $365.00 million to $374.10 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Provident Financial Services.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings results on Friday, October 26th. The savings and loans company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.08. Provident Financial Services had a return on equity of 8.09% and a net margin of 25.16%. The firm had revenue of $91.70 million during the quarter, compared to the consensus estimate of $89.09 million. During the same quarter in the prior year, the firm posted $0.41 EPS.

A number of brokerages have recently issued reports on PFS. Zacks Investment Research upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Friday, January 18th. Sandler O’Neill upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, December 20th. Boenning Scattergood reiterated a “hold” rating on shares of Provident Financial Services in a research note on Friday, October 26th. Finally, ValuEngine upgraded Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, October 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $26.50.

Several institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in Provident Financial Services by 31.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,140 shares of the savings and loans company’s stock valued at $100,000 after acquiring an additional 1,000 shares during the period. BlueMountain Capital Management LLC raised its stake in Provident Financial Services by 50.9% in the 2nd quarter. BlueMountain Capital Management LLC now owns 11,234 shares of the savings and loans company’s stock valued at $309,000 after acquiring an additional 3,788 shares during the period. Private Advisor Group LLC raised its stake in Provident Financial Services by 86.2% in the 3rd quarter. Private Advisor Group LLC now owns 15,488 shares of the savings and loans company’s stock valued at $380,000 after acquiring an additional 7,172 shares during the period. Jane Street Group LLC bought a new stake in Provident Financial Services in the 2nd quarter valued at $387,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Provident Financial Services in the 3rd quarter valued at $403,000. Institutional investors own 52.44% of the company’s stock.

Shares of Provident Financial Services stock traded down $0.04 on Wednesday, reaching $24.93. 123,627 shares of the company were exchanged, compared to its average volume of 169,775. Provident Financial Services has a one year low of $22.22 and a one year high of $29.12. The stock has a market cap of $2.09 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.71 and a beta of 0.65. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.17.

About Provident Financial Services

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

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Earnings History and Estimates for Provident Financial Services (NYSE:PFS)

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