Confused? Buy or Sell in volatile market – Analyst report Provident Financial Services (NYSE:PFS)

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Earnings results for Provident Financial Services (NYSE:PFS)

Provident Financial Services, Inc is expected* to report earnings on 10/30/2020 before market open. The report will be for the fiscal Quarter ending Sep 2020. According to Zacks Investment Research, based on 4 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.25. The reported EPS for the same quarter last year was $0.49.

Provident Financial Services last released its quarterly earnings data on July 30th, 2020. The savings and loans company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.07. The firm had revenue of $84.19 million for the quarter, compared to analyst estimates of $86.27 million. Its revenue was down 8.9% on a year-over-year basis. Provident Financial Services has generated $1.74 earnings per share over the last year and currently has a price-to-earnings ratio of 10.0. Provident Financial Services has confirmed that its next quarterly earnings report will be published on Friday, October 30th, 2020.

Analyst Opinion on Provident Financial Services (NYSE:PFS)

4 Wall Street analysts have issued ratings and price targets for Provident Financial Services in the last 12 months. Their average twelve-month price target is $15.00, predicting that the stock has a possible upside of 12.19%. The high price target for PFS is $15.00 and the low price target for PFS is $15.00. There are currently 2 hold ratings and 2 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Provident Financial Services has received a consensus rating of Buy. The company’s average rating score is 2.50, and is based on 2 buy ratings, 2 hold ratings, and no sell ratings. According to analysts’ consensus price target of $15.00, Provident Financial Services has a forecasted upside of 12.2% from its current price of $13.37. Provident Financial Services has only been the subject of 3 research reports in the past 90 days.

Dividend Strength: Provident Financial Services (NYSE:PFS)

Provident Financial Services is a leading dividend payer. It pays a dividend yield of 7.02%, putting its dividend yield in the top 25% of dividend-paying stocks. Provident Financial Services has only been increasing its dividend for 1 years. The dividend payout ratio of Provident Financial Services is 52.87%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Provident Financial Services will have a dividend payout ratio of 69.17% next year. This indicates that Provident Financial Services will be able to sustain or increase its dividend.

Insiders buying/selling: Provident Financial Services (NYSE:PFS)

In the past three months, Provident Financial Services insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $53,640.00 in company stock. Only 3.40% of the stock of Provident Financial Services is held by insiders. 66.59% of the stock of Provident Financial Services is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Provident Financial Services (NYSE:PFS

Earnings for Provident Financial Services are expected to grow by 31.68% in the coming year, from $1.01 to $1.33 per share. The P/E ratio of Provident Financial Services is 9.98, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 18.75. The P/E ratio of Provident Financial Services is 9.98, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 17.58. Provident Financial Services has a P/B Ratio of 0.62. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

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