Provident Financial Services (NYSE:PFS) Posts Earnings Results

Provident Financial Services (NYSE:PFS) released its quarterly earnings results on Tuesday. The savings and loans company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.10), Briefing.com reports. Provident Financial Services had a net margin of 9.38% and a return on equity of 4.95%. The company had revenue of $349.38 million during the quarter, compared to the consensus estimate of $211.25 million. During the same quarter last year, the firm posted $0.38 EPS.

Provident Financial Services Stock Down 0.1 %

NYSE:PFS traded down $0.01 on Wednesday, hitting $19.19. The stock had a trading volume of 170,888 shares, compared to its average volume of 890,380. The business’s fifty day moving average is $18.61 and its 200 day moving average is $16.61. The company has a market cap of $2.50 billion, a PE ratio of 18.10 and a beta of 1.03. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.08. Provident Financial Services has a 52 week low of $13.07 and a 52 week high of $19.97.

Analyst Ratings Changes

Several equities research analysts recently commented on PFS shares. StockNews.com lowered Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their target price on Provident Financial Services from $18.00 to $21.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods upgraded Provident Financial Services from a “market perform” rating to an “outperform” rating and upped their target price for the company from $20.00 to $21.00 in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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 value 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.44% of the company’s stock.

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.