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

• Provident Financial Services Inc PFS 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)