DA Davidson Has Positive Outlook of PFS FY2025 Earnings

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

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

Provident Financial Services Stock Up 2.6 %

NYSE:PFS traded up $0.44 during trading hours on Thursday, reaching $17.13. 562,861 shares of the company traded hands, compared to its average volume of 844,307. The business's 50-day moving average price is $16.56 and its two-hundred day moving average price is $18.51. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $2.24 billion, a P/E ratio of 16.31 and a beta of 0.84. Provident Financial Services has a 1 year low of $13.07 and a 1 year high of $22.24.

Provident Financial Services (NYSE:PFS - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. Provident Financial Services had a net margin of 10.13% and a return on equity of 5.60%. The company had revenue of $208.76 million during the quarter, compared to analyst estimates of $206.86 million. During the same period last year, the business earned $0.43 EPS. Provident Financial Services's quarterly revenue was up 82.4% compared to the same quarter last year.

Provident Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.60%. Provident Financial Services's dividend payout ratio (DPR) is currently 86.49%.

Institutional Trading of Provident Financial Services

Hedge funds have recently bought and sold shares of the company. PL Capital Advisors LLC increased its position in shares of Provident Financial Services by 1,787.0% during the 4th quarter. PL Capital Advisors LLC now owns 2,533,618 shares of the savings and loans company's stock valued at $47,809,000 after purchasing an additional 2,399,351 shares during the last quarter. Leigh Baldwin & CO. LLC bought a new stake in Provident Financial Services during the fourth quarter valued at approximately $17,447,000. Norges Bank bought a new stake in Provident Financial Services during the fourth quarter valued at approximately $7,225,000. Raymond James Financial Inc. purchased a new stake in Provident Financial Services during the fourth quarter valued at approximately $6,994,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Provident Financial Services by 55.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 795,855 shares of the savings and loans company's stock worth $14,771,000 after acquiring an additional 283,879 shares during the last quarter. Hedge funds and other institutional investors own 71.97% of the company's stock.

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.