FY2026 Earnings Estimate for PFS Issued By DA Davidson

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

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

Provident Financial Services Price Performance

NYSE:PFS traded up $0.35 during trading hours on Wednesday, reaching $18.86. 358,201 shares of the company's stock were exchanged, compared to its average volume of 712,199. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $2.46 billion, a P/E 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 business's 50-day simple moving average is $16.99 and its two-hundred day simple moving average is $17.51.

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 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. Provident Financial Services had a net margin of 11.45% and a return on equity of 6.38%. The company had revenue of $208.76 million during the quarter, compared to analyst estimates of $206.86 million. During the same quarter last year, the firm posted $0.43 EPS. The business's revenue for the quarter was up 82.4% on a year-over-year basis.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in Provident Financial Services by 447.3% during the 1st quarter. GAMMA Investing LLC now owns 1,505 shares of the savings and loans company's stock valued at $26,000 after acquiring an additional 1,230 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Provident Financial Services during the fourth quarter worth approximately $46,000. Byrne Asset Management LLC grew its position in Provident Financial Services by 193.8% during the first 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 in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Provident Financial Services by 30.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,893 shares of the savings and loans company's stock valued at $50,000 after purchasing an additional 667 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in Provident Financial Services in the 4th quarter valued at approximately $55,000. 71.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Provident Financial Services

In other news, Chairman Christopher P. Martin sold 55,668 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $17.07, for a total value of $950,252.76. Following the completion of the sale, the chairman owned 601,050 shares in the company, valued at $10,259,923.50. This represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by company insiders.

Provident Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend was Friday, May 16th. Provident Financial Services's payout ratio is 86.49%.

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.