FY2025 Earnings Forecast for PFS Issued By DA Davidson

Provident Financial Services, Inc (NYSE:PFS - Free Report) - Investment analysts at DA Davidson cut their FY2025 earnings per share estimates for shares of Provident Financial Services in a research note issued on Tuesday, July 1st. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings of $2.06 per share for the year, down from their prior estimate of $2.08. The consensus estimate for Provident Financial Services' current full-year earnings is $2.14 per share.

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

Provident Financial Services Stock Performance

Shares of PFS stock traded up $0.35 on Thursday, hitting $18.86. 358,201 shares of the stock traded hands, compared to its average volume of 712,199. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $2.46 billion, a PE ratio of 16.99 and a beta of 0.86. Provident Financial Services has a 1-year low of $14.16 and a 1-year high of $22.24. The company's fifty day moving average is $16.99 and its 200 day moving average is $17.51.

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

Provident Financial Services Dividend Announcement

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

Insider Buying and Selling

In related news, Chairman Christopher P. Martin sold 55,668 shares of the 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 completion of the sale, the chairman directly owned 601,050 shares of the company's stock, valued at approximately $10,259,923.50. This represents a 8.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On Provident Financial Services

Several hedge funds have recently bought and sold shares of the business. Leigh Baldwin & CO. LLC lifted its stake in Provident Financial Services by 1.3% in the 1st quarter. Leigh Baldwin & CO. LLC now owns 49,643 shares of the savings and loans company's stock worth $852,000 after acquiring an additional 645 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in 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 acquiring an additional 667 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Provident Financial Services by 1.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 72,088 shares of the savings and loans company's stock worth $1,238,000 after acquiring an additional 699 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Provident Financial Services by 5.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,240 shares of the savings and loans company's stock worth $269,000 after acquiring an additional 704 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in Provident Financial Services by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,172 shares of the savings and loans company's stock worth $249,000 after acquiring an additional 714 shares in the last quarter. 71.97% of the stock is owned by hedge funds and other institutional investors.

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.