Provident Financial Services (NYSE:PFS) Posts Quarterly Earnings Results

Provident Financial Services (NYSE:PFS) issued its earnings results 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 5.21% and a net margin of 9.55%.

Provident Financial Services Trading Up 0.5 %

Shares of NYSE PFS opened at $19.25 on Wednesday. Provident Financial Services has a twelve month low of $13.07 and a twelve month high of $22.24. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.02. The business has a fifty day simple moving average of $19.69 and a two-hundred day simple moving average of $19.02. The firm has a market cap of $2.51 billion, a PE ratio of 18.50 and a beta of 1.08.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PFS shares. StockNews.com lowered shares of Provident Financial Services from a “hold” rating to a “sell” rating in a report on Thursday, January 9th. DA Davidson raised their price target on Provident Financial Services from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Hovde Group started coverage on shares of Provident Financial Services in a research note on Friday, December 13th. They set an “outperform” rating and a $25.00 price target for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Insider Activity

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