FY2025 EPS Estimates for Provident Financial Services, Inc. Raised by DA Davidson (NYSE:PFS)

Provident Financial Services, Inc. (NYSE:PFS) – Equities researchers at DA Davidson boosted their FY2025 earnings per share estimates for Provident Financial Services in a research note issued to investors on Tuesday, April 23rd. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings per share of $2.35 for the year, up from their previous estimate of $2.05. DA Davidson currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for Provident Financial Services’ current full-year earnings is $1.63 per share.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings results on Friday, April 19th. The savings and loans company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $114.48 million for the quarter, compared to analyst estimates of $114.50 million. Provident Financial Services had a return on equity of 7.31% and a net margin of 16.78%. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share.

PFS has been the topic of several other research reports. TheStreet lowered Provident Financial Services from a “b-” rating to a “c+” rating in a research note on Wednesday, March 13th. StockNews.com upgraded Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods cut their target price on Provident Financial Services from $20.00 to $17.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada lifted their target price on Provident Financial Services from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Provident Financial Services presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Provident Financial Services Price Performance

PFS opened at $15.54 on Thursday. The business’s 50-day moving average is $14.75 and its two-hundred day moving average is $15.66. Provident Financial Services has a 1 year low of $13.21 and a 1 year high of $19.62. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 1.07. The firm has a market capitalization of $1.17 billion, a PE ratio of 9.71 and a beta of 1.07.

Provident Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, April 29th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.18%. Provident Financial Services’s payout ratio is 60.00%.

Insider Transactions at Provident Financial Services

In other news, Director Robert Mcnerney sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $17.86, for a total transaction of $89,300.00. Following the sale, the director now owns 9,475 shares in the company, valued at $169,223.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.29% of the company’s stock.

Institutional Investors Weigh In On Provident Financial Services

A number of large investors have recently modified their holdings of PFS. IFP Advisors Inc acquired a new stake in shares of Provident Financial Services during the third quarter worth about $271,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Provident Financial Services by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 889,829 shares of the savings and loans company’s stock worth $13,605,000 after purchasing an additional 60,765 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Provident Financial Services by 76.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 109,041 shares of the savings and loans company’s stock worth $1,667,000 after purchasing an additional 47,217 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in shares of Provident Financial Services during the third quarter worth about $681,000. Finally, Caxton Associates LP acquired a new stake in shares of Provident Financial Services during the third quarter worth about $573,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.

About Provident Financial Services

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.