FY2025 EPS Estimates for Provident Financial Services, Inc. Raised by DA Davidson (NYSE:PFS)

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

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

Provident Financial Services Trading Up 0.9 %

Shares of Provident Financial Services stock opened at $15.09 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.25. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 9.43 and a beta of 1.07. Provident Financial Services has a twelve month low of $13.21 and a twelve month high of $19.62. The business has a 50-day moving average price of $14.72 and a 200-day moving average price of $15.66.

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

Provident Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, April 29th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend is Friday, April 26th. Provident Financial Services’s dividend payout ratio (DPR) is 60.00%.

Insider Activity

In related news, Director Robert Mcnerney sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $17.86, for a total transaction of $89,300.00. Following the transaction, the director now directly owns 9,475 shares in the company, valued at approximately $169,223.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.29% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PFS. Norges Bank purchased a new stake in shares of Provident Financial Services in the fourth quarter worth approximately $9,419,000. Mendon Capital Advisors Corp purchased a new stake in Provident Financial Services in the fourth quarter worth $5,873,000. Hsbc Holdings PLC lifted its position in shares of Provident Financial Services by 334.5% during the fourth quarter. Hsbc Holdings PLC now owns 103,938 shares of the savings and loans company’s stock worth $1,889,000 after purchasing an additional 80,018 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Provident Financial Services by 3.1% during the third quarter. American Century Companies Inc. now owns 2,261,425 shares of the savings and loans company’s stock valued at $34,577,000 after purchasing an additional 68,856 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Provident Financial Services by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 889,829 shares of the savings and loans company’s stock worth $13,605,000 after purchasing an additional 60,765 shares during the last quarter. Hedge funds and other institutional investors own 71.97% of the company’s stock.

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.