DA Davidson Comments on Provident Financial Services, Inc.’s FY2025 Earnings (NYSE:PFS)

Provident Financial Services, Inc. (NYSE:PFS) – Equities researchers at DA Davidson raised their FY2025 EPS estimates for shares of Provident Financial Services in a research note 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 prior estimate of $2.05. DA Davidson has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Provident Financial Services’ current full-year earnings is $1.63 per share.

Several other equities research analysts also recently issued reports on PFS. Royal Bank of Canada raised their price objective on shares of Provident Financial Services from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. TheStreet cut Provident Financial Services from a “b-” rating to a “c+” rating in a report on Wednesday, March 13th. Keefe, Bruyette & Woods lowered their price objective on Provident Financial Services from $20.00 to $17.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 26th. Finally, StockNews.com raised Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Provident Financial Services currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Provident Financial Services Stock Performance

Shares of NYSE PFS opened at $15.09 on Thursday. Provident Financial Services has a 12 month low of $13.21 and a 12 month high of $19.62. The company has a market cap of $1.14 billion, a P/E ratio of 9.43 and a beta of 1.07. The business’s 50 day moving average is $14.72 and its two-hundred day moving average is $15.66. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.25.

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

Hedge Funds Weigh In On Provident Financial Services

A number of institutional investors have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC boosted its holdings in shares of Provident Financial Services by 17,508.3% during the 4th quarter. TFO Wealth Partners LLC now owns 2,113 shares of the savings and loans company’s stock worth $38,000 after buying an additional 2,101 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Provident Financial Services by 1,728.7% during the fourth quarter. International Assets Investment Management LLC now owns 7,333 shares of the savings and loans company’s stock worth $132,000 after acquiring an additional 6,932 shares during the period. Oak Thistle LLC acquired a new position in shares of Provident Financial Services in the fourth quarter valued at approximately $202,000. Orion Portfolio Solutions LLC grew its position in shares of Provident Financial Services by 8.9% in the third quarter. Orion Portfolio Solutions LLC now owns 14,434 shares of the savings and loans company’s stock valued at $221,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Provident Financial Services by 41.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,016 shares of the savings and loans company’s stock worth $230,000 after purchasing an additional 4,403 shares during the period. 71.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Provident Financial Services

In other Provident Financial Services news, Director Robert Mcnerney sold 5,000 shares of Provident Financial Services stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $17.86, for a total value of $89,300.00. Following the sale, the director now owns 9,475 shares of the company’s stock, valued at approximately $169,223.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.29% of the stock is owned by insiders.

Provident Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, April 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.36%. The ex-dividend date is Friday, April 26th. Provident Financial Services’s dividend payout ratio (DPR) is presently 60.00%.

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.