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) - Investment analysts at DA Davidson raised their FY2025 earnings per share estimates for shares of Provident Financial Services in a research note issued on Tuesday, July 29th. DA Davidson analyst M. Navas now anticipates 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 currently has a "Buy" rating and a $24.00 target price 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.

Other equities analysts have also issued reports about the company. Hovde Group boosted their price target on 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 cut their target price on Provident Financial Services from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, Raymond James Financial began coverage on Provident Financial Services in a research report on Thursday, June 26th. They issued a "strong-buy" rating and a $21.00 target price on the stock. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $22.70.

Provident Financial Services Stock Up 0.4%

Provident Financial Services stock traded up $0.08 during midday trading on Thursday, hitting $18.10. 106,764 shares of the company were exchanged, compared to its average volume of 662,248. The company's fifty day moving average price is $17.62 and its 200-day moving average price is $17.44. The company has a market cap of $2.36 billion, a PE ratio of 10.23 and a beta of 0.89. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.03 and a quick ratio of 1.03. Provident Financial Services has a fifty-two week low of $14.34 and a fifty-two week high of $22.24.

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

Provident Financial Services Announces Dividend

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

Insider Activity

In related news, Chairman Christopher P. Martin sold 55,668 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $17.07, for a total transaction 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. This represents a 8.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 institutional investors and hedge funds have recently made changes to their positions in PFS. 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 worth $26,000 after buying an additional 1,230 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Provident Financial Services by 633.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,040 shares of the savings and loans company's stock worth $36,000 after buying an additional 1,762 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Provident Financial Services during the 4th quarter worth $46,000. Byrne Asset Management LLC grew its stake in 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 worth $50,000 after buying an additional 1,938 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Provident Financial Services by 30.0% during 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. 71.97% of the stock is owned by institutional investors and hedge funds.

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.