DA Davidson Has Positive Forecast for PFS FY2025 Earnings

Provident Financial Services, Inc. (NYSE:PFS - Free Report) - Stock analysts at DA Davidson increased their FY2025 earnings per share estimates for Provident Financial Services in a research report issued on Tuesday, April 29th. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings per share of $2.08 for the year, up from their previous forecast of $2.07. The consensus estimate for Provident Financial Services' current full-year earnings is $2.14 per share.

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, beating 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 5.60% and a net margin of 10.13%. The business's revenue was up 82.4% on a year-over-year basis. During the same period last year, the firm posted $0.43 EPS.

Other equities research analysts have also issued reports about the stock. StockNews.com upgraded shares of Provident Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, February 15th. Royal Bank of Canada reduced their price target on shares of Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Provident Financial Services from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Provident Financial Services has a consensus rating of "Moderate Buy" and a consensus price target of $24.25.

Provident Financial Services Trading Down 0.9 %

PFS traded down $0.15 during trading on Thursday, reaching $16.85. 106,739 shares of the company's stock were exchanged, compared to its average volume of 839,706. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.01. Provident Financial Services has a fifty-two week low of $13.07 and a fifty-two week high of $22.24. The firm has a market capitalization of $2.20 billion, a PE ratio of 16.05 and a beta of 0.84. The company's fifty day moving average price is $16.55 and its 200-day moving average price is $18.48.

Institutional Trading of Provident Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of PFS. Barclays PLC raised its position in Provident Financial Services by 39.8% during the third quarter. Barclays PLC now owns 316,953 shares of the savings and loans company's stock worth $5,883,000 after acquiring an additional 90,238 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Provident Financial Services by 23.2% during the fourth quarter. JPMorgan Chase & Co. now owns 980,654 shares of the savings and loans company's stock worth $18,505,000 after buying an additional 184,799 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Provident Financial Services by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,825,993 shares of the savings and loans company's stock valued at $34,456,000 after purchasing an additional 33,201 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Provident Financial Services during the 4th quarter worth $513,000. Finally, Assenagon Asset Management S.A. bought a new position in Provident Financial Services in the fourth quarter valued at about $5,026,000. Institutional investors own 71.97% of the company's stock.

Provident Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Friday, May 16th. Provident Financial Services's dividend payout ratio (DPR) is currently 86.49%.

About Provident Financial Services

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.