Equities Analysts Set Expectations for PFS FY2025 Earnings

Provident Financial Services, Inc (NYSE:PFS) – DA Davidson decreased their FY2025 earnings per share estimates for shares of Provident Financial Services in a report released on Tuesday, July 1st. DA Davidson analyst M. Navas now forecasts that the savings and loans company will earn $2.06 per share for the year, down from their previous estimate of $2.08. The consensus estimate for Provident Financial Services’ current full-year earnings is $2.14 per share.

Several other brokerages also recently weighed in on PFS. Raymond James Financial assumed coverage on Provident Financial Services in a research note on Thursday, June 26th. They set a “strong-buy” rating and a $21.00 target price for the company. Keefe, Bruyette & Woods reduced their price objective on Provident Financial Services from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. One 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 company. According to MarketBeat, Provident Financial Services presently has an average rating of “Buy” and an average target price of $23.60.

Provident Financial Services Price Performance

Shares of NYSE:PFS opened at $18.86 on Thursday. The business has a 50 day moving average price of $17.04 and a 200 day moving average price of $17.50. Provident Financial Services has a twelve month low of $14.16 and a twelve month high of $22.24. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 16.99 and a beta of 0.86. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.05.

Provident Financial Services (NYSE:PFS) last released 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 return on equity of 6.38% and a net margin of 11.45%. The company had revenue of $208.76 million during the quarter, compared to the consensus estimate of $206.86 million. During the same quarter in the prior year, the company posted $0.43 EPS. The firm’s revenue was up 82.4% on a year-over-year basis.

Hedge Funds Weigh In On Provident Financial Services

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Provident Financial Services by 447.3% in 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 in the last quarter. Aquatic Capital Management LLC acquired a new stake in Provident Financial Services during the 4th quarter valued at $46,000. Byrne Asset Management LLC increased its holdings 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 valued at $50,000 after purchasing an additional 1,938 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings 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 valued at $50,000 after purchasing an additional 667 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new stake in Provident Financial Services during the 4th quarter valued at $55,000. 71.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Christopher P. Martin sold 55,668 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $17.07, for a total value of $950,252.76. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 3.10% of the company’s stock.

Provident Financial Services Announces Dividend

The company 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. The ex-dividend date was Friday, May 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.09%. Provident Financial Services’s dividend payout ratio 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.