Provident Financial Services Inc reports results for the quarter ended in March - Earnings Summary

Provident Financial Services

19/04/2024 24:13

* Provident Financial Services Inc  PFS.N  reported
quarterly
adjusted earnings of 43 cents​​ per share for the quarter ended
in March, lower than the same quarter last year, when the
company reported EPS of 54 cents.  The mean expectation of
five analysts for the quarter was for earnings of 40 cents per
share. Wall Street expected results to range from 35 cents to 43
cents per share.
    * Revenue fell 3% to $105.08 million from a year ago;
analysts
expected $92.74 million. 
    * Provident Financial Services Inc's reported EPS for the
quarter
was 43 cents​.
    * The company reported quarterly net income of $32.08
million.
    * Provident Financial Services Inc shares had fallen by 6.5%
this
quarter and lost 24.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 5.8%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Provident
Financial Services Inc is $17.00 
This summary was machine generated from LSEG data April 18 at
11:12 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.40           0.43           Beat
 Dec. 31 2023      0.40           0.44           Beat
 Sep. 30 2023      0.38           0.41           Beat
 Jun. 30 2023      0.44           0.43           Missed