Provident Financial Services (PFS) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Provident Financial Services (PFS) reported quarterly earnings results on Friday, Apr-29-2016. The company reported $0.33 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.34. The company posted revenue of $76.00 million in the period, compared to analysts expectations of $77.45 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Provident Financial Services closed down -0.02 points or -0.10% at $20.66 with 1,74,146 shares getting traded on Wednesday. Post opening the session at $20.67, the shares hit an intraday low of $20.47 and an intraday high of $20.806 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 7, 2016, Janet D Krasowski (EVP of The Provident Bank) sold 1,925 shares at $19.17 per share price. According to the SEC, on Mar 7, 2016, Donald W Blum (EVP/CLO of The Provident Bank) sold 10,000 shares at $19.33 per share price. On Mar 3, 2016, John F Kuntz (EVP,General Counsel, Secretary) sold 10,000 shares at $18.85 per share price, according to the Form-4 filing with the securities and exchange commission.

Provident Financial Services Inc. is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank and operates 86 full-service branch offices in the New Jersey counties of Hudson Bergen Essex Mercer Hunterdon Middlesex Monmouth Morris Ocean Passaic Somerset Union and Warren as well as in Bucks Lehigh and Northampton counties in Pennsylvania. The Bank receives deposits from the general public and businesses primarily in the areas surrounding its banking offices and uses those funds together with funds generated from operations and borrowings to originate commercial real estate loans residential mortgage loans commercial business loans and consumer loans. The Bank also invests in mortgage-backed securities and other permissible investments. The Company operates primarily in the geographical regions of northern and central New Jersey and eastern Pennsylvania.

Provident Financial Services

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