Provident Financial Services (NYSE:PFS) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

by · The Cerbat Gem

Provident Financial Services (NYSE:PFS – Get Free Report) posted its earnings results on Tuesday. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08, Zacks reports. The business had revenue of $224.74 million during the quarter, compared to analyst estimates of $224.08 million. Provident Financial Services had a return on equity of 9.62% and a net margin of 18.76%.The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share.

Provident Financial Services Price Performance

PFS opened at $20.81 on Wednesday. The company has a 50-day moving average of $20.08 and a 200-day moving average of $19.38. The company has a market capitalization of $2.72 billion, a P/E ratio of 10.62 and a beta of 0.85. Provident Financial Services has a 1-year low of $14.34 and a 1-year high of $21.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.02 and a current ratio of 1.02.

Provident Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Friday, November 14th. Provident Financial Services’s dividend payout ratio is 48.98%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PFS. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Provident Financial Services in a research report on Thursday, January 22nd. DA Davidson lowered shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Provident Financial Services currently has an average rating of “Moderate Buy” and a consensus price target of $22.70.

Read Our Latest Research Report on PFS

Trending Headlines about Provident Financial Services

Here are the key news stories impacting Provident Financial Services this week:

  • Positive Sentiment: Q4 results beat expectations — Provident reported $0.64 EPS vs. $0.56 consensus, revenue of $224.7M (slightly above estimates) and net income of $83.4M; revenue was up ~9.6% YoY and margins/ROE remained healthy, supporting near-term earnings outlook. Press Release
  • Positive Sentiment: Board authorized a new stock repurchase program covering ~2.81M shares (about 2.15% of outstanding) with no set expiration — management frames this as confidence in the balance sheet and a way to return capital and boost shareholder value. Repurchases begin after the current program finishes. Quiver Quant Summary
  • Neutral Sentiment: Analyst coverage and call materials available — transcripts and analyst notes (Zacks, Yahoo Finance transcript) provide detail on loan growth, net interest margin drivers and expense trends; these are useful for modeling forward EPS but contain no material surprise beyond the reported beat. Earnings Call Transcript
  • Neutral Sentiment: Company community/CSR activity disclosed (additional $50k in grants) — positive for brand/relationship with local markets but unlikely to move the stock materially. Press Release
  • Negative Sentiment: Recent insider selling noted in public reports — multiple insider sell transactions were flagged in secondary coverage; while not atypical, continued insider sales can concern some investors about sentiment at the management level. Quiver Quant (insider activity section)

Insider Activity at Provident Financial Services

In other news, CEO George Lista sold 8,262 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $18.35, for a total transaction of $151,607.70. Following the transaction, the chief executive officer owned 108,656 shares of the company’s stock, valued at approximately $1,993,837.60. This trade represents a 7.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Trading of Provident Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of PFS. EverSource Wealth Advisors LLC grew its position in shares of Provident Financial Services by 358.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the savings and loans company’s stock worth $27,000 after acquiring an additional 1,210 shares in the last quarter. Danske Bank A S bought a new position in Provident Financial Services during the third quarter worth $58,000. Russell Investments Group Ltd. boosted its holdings in Provident Financial Services by 227.6% in the second quarter. Russell Investments Group Ltd. now owns 6,926 shares of the savings and loans company’s stock worth $121,000 after purchasing an additional 4,812 shares during the period. Cerity Partners LLC bought a new stake in Provident Financial Services during the second quarter valued at $177,000. Finally, Captrust Financial Advisors acquired a new stake in shares of Provident Financial Services during the second quarter worth $187,000. Institutional investors and hedge funds own 71.97% of the company’s stock.

Provident Financial Services declared that its Board of Directors has authorized a stock buyback program on Monday, January 26th that authorizes the company to buyback $2.81 million in shares. This buyback authorization authorizes the savings and loans company to purchase up to 0.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Provident Financial Services Company Profile

(Get Free Report)

Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.

Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.

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