FY2025 EPS Estimates for Provident Financial Services, Inc. Lifted by Analyst (NYSE:PFS)

Provident Financial Services, Inc. (NYSE:PFS - Free Report) - DA Davidson increased their FY2025 earnings per share estimates for shares of Provident Financial Services in a research report issued on Tuesday, April 23rd. DA Davidson analyst M. Navas now forecasts 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.

PFS has been the topic of a number of other reports. StockNews.com raised shares of Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Tuesday. Royal Bank of Canada boosted their price objective on Provident Financial Services from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Monday. Keefe, Bruyette & Woods dropped their target price on Provident Financial Services from $20.00 to $17.00 and set a "market perform" rating on the stock in a report on Tuesday, March 26th. Finally, TheStreet downgraded Provident Financial Services from a "b-" rating to a "c+" rating in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Provident Financial Services currently has an average rating of "Moderate Buy" and an average price target of $19.00.

Provident Financial Services Stock Down 2.3 %

Shares of NYSE:PFS traded down $0.35 during trading on Thursday, reaching $15.20. 996,283 shares of the stock were exchanged, compared to its average volume of 717,711. Provident Financial Services has a 1-year low of $13.21 and a 1-year high of $19.62. The stock has a fifty day moving average of $14.75 and a two-hundred day moving average of $15.66. 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 cap of $1.15 billion, a price-to-earnings ratio of 9.71 and a beta of 1.07.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Orion Portfolio Solutions LLC raised its stake in Provident Financial Services by 8.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 14,434 shares of the savings and loans company's stock valued at $221,000 after acquiring an additional 1,184 shares during the period. WBI Investments Inc. lifted its stake in shares of Provident Financial Services by 7.4% during the 3rd quarter. WBI Investments Inc. now owns 19,541 shares of the savings and loans company's stock valued at $299,000 after buying an additional 1,338 shares in the last quarter. Valley National Advisers Inc. lifted its stake in shares of Provident Financial Services by 5.6% during the 3rd quarter. Valley National Advisers Inc. now owns 27,121 shares of the savings and loans company's stock valued at $415,000 after buying an additional 1,434 shares in the last quarter. Swiss National Bank boosted its holdings in Provident Financial Services by 1.3% in the 3rd quarter. Swiss National Bank now owns 157,800 shares of the savings and loans company's stock worth $2,413,000 after buying an additional 2,000 shares during the period. Finally, TFO Wealth Partners LLC grew its stake in Provident Financial Services by 17,508.3% in the 4th quarter. TFO Wealth Partners LLC now owns 2,113 shares of the savings and loans company's stock valued at $38,000 after buying an additional 2,101 shares in the last quarter. Hedge funds and other institutional investors own 71.97% of the company's stock.

Insider Buying and Selling

In other Provident Financial Services news, Director Robert Mcnerney sold 5,000 shares of the business's stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $17.86, for a total value of $89,300.00. Following the transaction, the director now directly owns 9,475 shares in the company, valued at $169,223.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.29% of the stock is currently owned by corporate insiders.

Provident Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, April 29th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.96 annualized dividend and a yield of 6.32%. Provident Financial Services's payout ratio is currently 60.00%.

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.