Provident Financial Services (NYSE:PFS) Posts Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Provident Financial Services (NYSE:PFS) released its quarterly earnings data on Tuesday. The savings and loans company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 Stock Performance

Shares of PFS stock opened at $19.25 on Wednesday. The company has a market capitalization of $2.51 billion, a P/E ratio of 18.50 and a beta of 1.08. Provident Financial Services has a 12-month low of $13.07 and a 12-month high of $22.24. The business’s 50 day moving average is $19.69 and its two-hundred day moving average is $19.02. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.02.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PFS shares. DA Davidson increased 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. Hovde Group started coverage on Provident Financial Services in a research report on Friday, December 13th. They set an “outperform” rating and a $25.00 price target for the company. Finally, StockNews.com lowered Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Insider Transactions at Provident Financial Services

In related news, EVP James A. Christy sold 3,500 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $20.88, for a total transaction of $73,080.00. Following the completion of the transaction, the executive vice president now owns 34,254 shares in the company, valued at $715,223.52. This represents a 9.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.