Provident Financial Services Q2 Earnings Report: Analyzing Historical Data and Analyst Estimates

🌥️Introduction:

Get ready, investors! Provident Financial Services is set to release its highly anticipated second quarter earnings report on July 28, 2023, at 10:00 AM EST. As we approach this important event, let’s take a deep dive into the fundamental and technical analysis, historical guidance, and analysts’ estimates to gain insights into the future prospects of this financial services company.

Fundamental Analysis:

	ReportDate	NetIncome	TotalRevenue	DilutedEPS	unit
Q2	2023-06-30	32.0	118.5	0.43	million USD
Q1	2023-03-31	40.5	130.5	0.54	million USD
Q4	2022-12-31	49.0	132.3	0.66	million USD
Q3	2022-09-30	43.4	137.9	0.58	million USD
Q2	2022-06-30	39.2	120.4	0.53	million USD

Provident Financial Services has demonstrated consistent performance in the past year, with quarterly net income ranging from $32 million to $49 million. The company’s total revenue has remained relatively stable, fluctuating between $118.5 million and $132.3 million during the same period. Diluted earnings per share (EPS) have also exhibited consistency, with a range of $0.43 to $0.66 million in the past four quarters.

This consistency in financial results indicates a steady growth pattern for Provident Financial Services. Investors will be interested to see if the company can maintain this trend in the second quarter of 2023.

Technical Analysis:

	since	low	high	change	change%
1D	2023-08-18	16.6	17.1	0.2	1.0
5D	2023-08-14	16.6	18.0	-0.8	-4.5
1M	2023-07-20	16.6	19.6	-1.7	-9.1
3M	2023-05-15	14.9	19.6	1.8	11.5

If we delve into the recent price performance of Provident Financial Services, we observe some interesting trends. Over the past three months, the stock has shown significant volatility. Since May 15, 2023, the stock price has increased by 11.5%, reaching a high of $19.6 and a low of $14.9.

However, in the last five days leading up to the earnings call, the stock experienced a brief downturn, declining by 4.5%. This retracement might be attributed to market-wide factors or profit-taking by investors.

Historical Guidance:

Provident Financial Services‘ historical guidance provides us with a clear picture of its financial performance and sets expectations for the upcoming earnings call. The company has consistently reported positive net income, revenue growth, and stable diluted EPS over the past year.

Investors will be optimistic about the company’s ability to deliver another strong quarter as it continues to navigate uncertain market conditions and capitalize on its robust business model.

Analysts’ Estimates:

According to MorningStar consensus estimates, analysts have maintained a consistent adjusted EPS estimate of $0.52 for Provident Financial Services over the past 90 days, 60 days, 30 days, and even in the current estimate. This unanimity among analysts regarding earnings expectations suggests confidence in the company’s ability to meet or exceed its targets.

Conclusion:

As Provident Financial Services approaches its Q2 earnings call, investors have much to be excited about. The fundamental analysis highlights the company’s consistent financial performance, while the technical analysis reveals recent volatility in stock price.

Historical guidance indicates a positive outlook for the company, with continued growth expected in net income, total revenue, and diluted EPS. Furthermore, analysts’ estimates reinforce this positive sentiment, as all estimates converge at an adjusted EPS of $0.52.

To gain deeper insights into Provident Financial Services‘ future prospects, diligent investors should tune in to the earnings call on July 28, 2023, at 10:00 AM EST. The call will provide an opportunity to hear directly from company executives about their strategies, market conditions, and outlook.

By staying informed and analyzing the provided data from various perspectives, investors can make well-informed decisions and potentially reap the benefits of Provident Financial Services‘ continued success.