DA Davidson Has Pessimistic Outlook of PFS FY2026 Earnings

Provident Financial Services, Inc (NYSE:PFS - Free Report) - Equities research analysts at DA Davidson dropped their FY2026 earnings estimates for Provident Financial Services in a report issued on Tuesday, July 1st. DA Davidson analyst M. Navas now anticipates that the savings and loans company will earn $2.33 per share for the year, down from their prior estimate of $2.35. The consensus estimate for Provident Financial Services' current full-year earnings is $2.14 per share.

Several other brokerages also recently weighed in on PFS. Keefe, Bruyette & Woods dropped their target price on shares of Provident Financial Services from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Raymond James Financial started coverage on Provident Financial Services in a research note on Thursday, June 26th. They issued a "strong-buy" rating and a $21.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $23.60.

Provident Financial Services Price Performance

Shares of NYSE PFS traded up $0.35 during midday trading on Wednesday, reaching $18.86. The stock had a trading volume of 358,201 shares, compared to its average volume of 712,211. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 16.99 and a beta of 0.86. Provident Financial Services has a 12-month low of $14.16 and a 12-month high of $22.24. The stock has a 50-day moving average of $17.04 and a 200-day moving average of $17.49. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.03 and a current ratio of 1.03.

Provident Financial Services (NYSE:PFS - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $208.76 million for the quarter, compared to the consensus estimate of $206.86 million. Provident Financial Services had a return on equity of 6.38% and a net margin of 11.45%. The business's revenue for the quarter was up 82.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 earnings per share.

Provident Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.24 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.96 dividend on an annualized basis and a yield of 5.09%. Provident Financial Services's dividend payout ratio is currently 86.49%.

Insider Buying and Selling

In other news, Chairman Christopher P. Martin sold 55,668 shares of Provident Financial Services stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $17.07, for a total value of $950,252.76. Following the sale, the chairman directly owned 601,050 shares of the company's stock, valued at approximately $10,259,923.50. The trade was a 8.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Provident Financial Services

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Provident Financial Services by 447.3% in the first quarter. GAMMA Investing LLC now owns 1,505 shares of the savings and loans company's stock worth $26,000 after purchasing an additional 1,230 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Provident Financial Services in the 4th quarter worth $46,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Provident Financial Services by 30.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,893 shares of the savings and loans company's stock worth $50,000 after buying an additional 667 shares during the last quarter. Federated Hermes Inc. purchased a new position in Provident Financial Services in the fourth quarter worth about $55,000. Finally, Byrne Asset Management LLC increased its position in shares of Provident Financial Services by 193.8% during the 1st quarter. Byrne Asset Management LLC now owns 2,938 shares of the savings and loans company's stock valued at $50,000 after purchasing an additional 1,938 shares during the last quarter. Hedge funds and other institutional investors own 71.97% of the company's stock.

Provident Financial Services Company Profile

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.