DA Davidson Has Negative Outlook of PFS FY2026 Earnings

Provident Financial Services, Inc (NYSE:PFS) – Equities researchers at DA Davidson decreased their FY2026 earnings per share estimates for shares of Provident Financial Services in a research note issued to investors on Tuesday, July 1st. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings per share of $2.33 for the year, down from their previous estimate of $2.35. The consensus estimate for Provident Financial Services’ current full-year earnings is $2.14 per share.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Thursday, April 24th. The savings and loans company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $208.76 million for the quarter, compared to analyst estimates of $206.86 million. Provident Financial Services had a return on equity of 6.38% and a net margin of 11.45%. The business’s quarterly revenue was up 82.4% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS.

Several other research analysts have also weighed in on the company. 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. 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 price objective on the stock. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Provident Financial Services has a consensus rating of “Buy” and a consensus price target of $23.60.

Provident Financial Services Trading Up 1.9%

Shares of PFS opened at $18.86 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $2.46 billion, a P/E ratio of 16.99 and a beta of 0.86. The stock’s fifty day simple moving average is $16.99 and its 200 day simple moving average is $17.51. Provident Financial Services has a twelve month low of $14.16 and a twelve month high of $22.24.

Provident Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.09%. The ex-dividend date of this dividend was Friday, May 16th. Provident Financial Services’s dividend payout ratio (DPR) is presently 86.49%.

Insider Buying and Selling

In other Provident Financial Services news, Chairman Christopher P. Martin sold 55,668 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $17.07, for a total value of $950,252.76. Following the transaction, the chairman directly owned 601,050 shares of the company’s stock, valued at $10,259,923.50. This trade represents a 8.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is owned by company insiders.

Institutional Trading of Provident Financial Services

Several large investors have recently modified their holdings of PFS. City Center Advisors LLC purchased a new stake in shares of Provident Financial Services during the second quarter worth about $186,000. Mendon Capital Advisors Corp increased its position in shares of Provident Financial Services by 50.0% during the first quarter. Mendon Capital Advisors Corp now owns 300,000 shares of the savings and loans company’s stock worth $5,151,000 after acquiring an additional 100,000 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Provident Financial Services by 45.6% during the first quarter. Intech Investment Management LLC now owns 73,261 shares of the savings and loans company’s stock worth $1,258,000 after acquiring an additional 22,961 shares during the last quarter. Jane Street Group LLC increased its position in shares of Provident Financial Services by 247.5% during the first quarter. Jane Street Group LLC now owns 312,478 shares of the savings and loans company’s stock worth $5,365,000 after acquiring an additional 222,549 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Provident Financial Services by 6.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 256,739 shares of the savings and loans company’s stock worth $4,408,000 after acquiring an additional 15,112 shares during the last quarter. 71.97% of the stock is currently 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.