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

Provident Financial Services (PFS) reported quarterly earnings results on Friday, Jul-29-2016. The company said it had a profit of $0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.33. The company posted revenue of $77.73 million in the period, compared to analysts expectations of $76.87 million. The company’s revenue was down -1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Provident Financial Services opened for trading at $20.07 and hit $20.23 on the upside on Thursday, eventually ending the session at $20.19, with a gain of 0.30% or 0.06 points. The heightened volatility saw the trading volume jump to 99,542 shares. Company has a market cap of $1,334 M.

In a different news, on Jun 2, 2016, Carlos Hernandez (director) sold 3,200 shares at $20.34 per share price. According to the SEC, on May 25, 2016, Janet D Krasowski (EVP of The Provident Bank) sold 10,000 shares at $20.00 per share price. On May 6, 2016, Frank L Fekete (director) sold 3,000 shares at $19.69 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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