What is DA Davidson's Forecast for PFS FY2025 Earnings?

Key Points

• DA Davidson has increased its FY2025 earnings per share (EPS) estimate for Provident Financial Services to $2.16, up from the previous estimate of $2.06, while maintaining a "Buy" rating and a price target of $24.00.
• Provident Financial's recent quarterly earnings report showed an EPS of $0.55, exceeding the consensus estimate of $0.50, with revenues also surpassing expectations at $214.17 million.
• The company declared a quarterly dividend of $0.24, scheduled for distribution on August 29th, reflecting an annual yield of 5.21%.

Provident Financial Services, Inc (NYSE:PFS - Free Report) - Research analysts at DA Davidson lifted their FY2025 earnings estimates for shares of Provident Financial Services in a note issued to investors on Tuesday, July 29th. DA Davidson analyst M. Navas now forecasts that the savings and loans company will post earnings of $2.16 per share for the year, up from their prior estimate of $2.06. DA Davidson has a "Buy" rating and a $24.00 price objective on the stock. The consensus estimate for Provident Financial Services' current full-year earnings is $2.14 per share. DA Davidson also issued estimates for Provident Financial Services' FY2026 earnings at $2.40 EPS.

Provident Financial Services (NYSE:PFS - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. Provident Financial Services had a return on equity of 8.80% and a net margin of 16.97%. The business had revenue of $214.17 million during the quarter, compared to analysts' expectations of $213.39 million. During the same period in the previous year, the firm earned ($0.11) earnings per share.

PFS has been the topic of a number of other reports. Hovde Group lifted their price target on shares of Provident Financial Services from $22.50 to $23.50 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Keefe, Bruyette & Woods dropped their price objective on Provident Financial Services from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Finally, Raymond James Financial began coverage on Provident Financial Services in a research note on Thursday, June 26th. They issued a "strong-buy" rating and a $21.00 target price for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $22.70.

Provident Financial Services Trading Down 1.2%

Provident Financial Services stock traded down $0.22 during midday trading on Thursday, hitting $18.00. 722,850 shares of the stock were exchanged, compared to its average volume of 603,399. Provident Financial Services has a 52 week low of $14.34 and a 52 week high of $22.24. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $2.35 billion, a PE ratio of 10.17 and a beta of 0.89. The company has a fifty day simple moving average of $17.62 and a two-hundred day simple moving average of $17.47.

Provident Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.96 dividend on an annualized basis and a yield of 5.3%. Provident Financial Services's dividend payout ratio is presently 54.24%.

Insiders Place Their Bets

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 transaction of $950,252.76. Following the completion of the transaction, the chairman directly owned 601,050 shares in the company, valued at approximately $10,259,923.50. This trade represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On Provident Financial Services

Several hedge funds have recently made changes to their positions in PFS. Principal Financial Group Inc. grew its position in Provident Financial Services by 2.7% in the first quarter. Principal Financial Group Inc. now owns 649,485 shares of the savings and loans company's stock valued at $11,152,000 after purchasing an additional 16,941 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Provident Financial Services by 447.3% in 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. Deutsche Bank AG grew its holdings in shares of Provident Financial Services by 27.5% in the 4th quarter. Deutsche Bank AG now owns 101,830 shares of the savings and loans company's stock valued at $1,922,000 after acquiring an additional 21,993 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Provident Financial Services by 4.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,649 shares of the savings and loans company's stock valued at $1,352,000 after acquiring an additional 2,728 shares during the last quarter. Finally, Man Group plc bought a new stake in Provident Financial Services during the fourth quarter worth about $296,000. 71.97% of the stock is owned by 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.