News articles about Provident Financial Services (NYSE:PFS) have trended somewhat positive recently, according to Accern Sentiment Analysis. The research group ranks the sentiment of media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Provident Financial Services earned a news impact score of 0.12 on Accern’s scale. Accern also gave media coverage about the savings and loans company an impact score of 45.8021967474598 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the headlines that may have effected Accern Sentiment’s scoring:
- Provident Financial Services, Inc. (PFS) Receives Average Recommendation of “Hold” from Analysts (americanbankingnews.com)
- $89.09 Million in Sales Expected for Provident Financial Services, Inc. (PFS) This Quarter (americanbankingnews.com)
- Zacks: Brokerages Anticipate Provident Financial Services, Inc. (PFS) Will Post Earnings of $0.46 Per Share (americanbankingnews.com)
- Provident Financial Services, Inc. Forecasted to Earn FY2018 Earnings of $1.64 Per Share (PFS) (americanbankingnews.com)
A number of research analysts have recently commented on PFS shares. Sandler O’Neill reiterated a “hold” rating on shares of Provident Financial Services in a research note on Thursday, June 28th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $25.50 target price on shares of Provident Financial Services in a research report on Wednesday, August 1st. Boenning Scattergood reissued a “neutral” rating on shares of Provident Financial Services in a research report on Friday, June 29th. Finally, Zacks Investment Research lowered Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Provident Financial Services currently has an average rating of “Hold” and an average target price of $28.00.
Provident Financial Services (NYSE:PFS) last released its quarterly earnings results on Friday, July 27th. The savings and loans company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). Provident Financial Services had a net margin of 23.56% and a return on equity of 7.46%. The company had revenue of $88.12 million for the quarter, compared to analyst estimates of $87.99 million. During the same quarter last year, the firm posted $0.38 EPS. Provident Financial Services’s revenue for the quarter was up 5.1% on a year-over-year basis. sell-side analysts forecast that Provident Financial Services will post 1.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Tuesday, August 14th. This is an increase from Provident Financial Services’s previous quarterly dividend of $0.20. Provident Financial Services’s payout ratio is presently 52.63%.
In related news, Director James P. Dunigan purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were bought at an average price of $25.49 per share, with a total value of $25,490.00. Following the acquisition, the director now owns 4,926 shares of the company’s stock, valued at approximately $125,563.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos Hernandez sold 3,600 shares of Provident Financial Services stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $27.93, for a total transaction of $100,548.00. The disclosure for this sale can be found here. Insiders bought a total of 2,800 shares of company stock worth $73,948 in the last 90 days. Company insiders own 3.00% of the company’s stock.
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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