Last $18.20 USD
Change Today -0.12 / -0.66%
Volume 328.8K
PFS On Other Exchanges
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As of 8:04 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

provident financial services (PFS) Key Developments

Provident Financial Services Declares Quarterly Cash Dividend Payable on February 27, 2015

The Provident Financial Services, Inc. Board of Directors declared a quarterly cash dividend of $0.16 per common share payable on February 27, 2015, to stockholders of record as of the close of business on February 13, 2015.

Provident Financial Services, Inc. Provides Tax Rate Guidance for the Year 2015

Provident Financial Services, Inc. provided tax rate guidance for the year 2015. The company currently projects an effective tax rate of 30.5% for 2015.

Provident Financial Services, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014; Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2014

Provident Financial Services, Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company announced total interest income of $73,800,000 compared to $64,076,000 for the same period a year ago. Net interest income was $63,318,000 compared to $54,707,000 for the same period a year ago. Income before income tax expense was $31,187,000 compared to $25,208,000 for the same period a year ago. Net income was $21,219,000 compared to $17,402,000 for the same period a year ago. Basic and diluted earnings per share were $0.34 compared to $0.30 for the same period a year ago. Annualized return on average assets was 1.00% compared to 0.94% for the same period a year ago. Annualized return on average equity was 7.36% compared to 6.85% for the same period a year ago. Annualized return on average tangible equity was 11.38% compared to 10.60% for the same period a year ago. Core earnings were $21,603,000 or $0.34 per diluted share against $17,402,000 or $0.30 per diluted share a year ago. For the full year, the company announced total interest income of $279,361,000 compared to $252,777,000 for the same period a year ago. Net interest income was $238,889,000 compared to $216,010,000 for the same period a year ago. Income before income tax expense was $105,416,000 compared to $105,900,000 for the same period a year ago. Net income was $73,631,000 compared to $70,534,000 for the same period a year ago. Basic and diluted earnings per share were $1.22 compared to $1.23 for the same period a year ago. Annualized return on average assets was 0.92% compared to 0.97% for the same period a year ago. Annualized return on average equity was 6.75% compared to 7.08% for the same period a year ago. Annualized return on average tangible equity was 10.43% compared to 11.04% for the same period a year ago. Core earnings were $78,337,000 or $1.29 per diluted share against $73,739,000 or $1.29 per diluted share a year ago. Book value per share at the end of the period was $17.63 compared to $16.87 for the same period a year ago. Tangible book value per share at the end of the period was $11.40 compared to $10.92 for the same period a year ago. For the fourth quarter, the company had net charge-offs of $2.8 million compared with $3.1 million for the same period in 2013.

Provident Financial Services Seeks Acquisitions

Provident Financial Services, Inc. (NYSE:PFS) is looking for acquisition opportunities. Chris Martin, Chairman, President, Chief Executive Officer of Provident Financial Services said, "Our capital continues to grow with our leverage ratio at 9.21% at December 31, 2014, providing us dry powder for organic growth, acquisitions, stock repurchases, or increased cash dividends as we announced at this morning. But we will, as always, stay focused on accretive opportunities that enhance long-term value."

Provident Financial Services, Inc. to Report Q4, 2014 Results on Jan 30, 2015

Provident Financial Services, Inc. announced that they will report Q4, 2014 results at 8:00 AM, US Eastern Standard Time on Jan 30, 2015

 

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Industry Analysis

PFS

Industry Average

Valuation PFS Industry Range
Price/Earnings 15.0x
Price/Sales 4.1x
Price/Book 1.0x
Price/Cash Flow 16.0x
TEV/Sales NM Not Meaningful
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