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

Provident Financial Services, Inc. (NYSE:PFS) – Stock analysts at DA Davidson boosted their FY2025 earnings per share (EPS) estimates for shares of 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 earn $2.35 per share for the year, up from their previous forecast of $2.05. DA Davidson currently has a “Buy” rating and a $20.00 target price on the stock. The consensus estimate for Provident Financial Services’ current full-year earnings is $1.63 per share.

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 (EPS) for the quarter, topping 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 firm had revenue of $114.48 million for the quarter, compared to analyst estimates of $114.50 million. During the same quarter in the prior year, the company earned $0.54 EPS. Provident Financial Services’s revenue was down 12.3% on a year-over-year basis.

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

Provident Financial Services Price Performance

PFS opened at $15.54 on Thursday. The stock’s 50-day moving average price is $14.75 and its 200 day moving average price is $15.66. Provident Financial Services has a 12-month low of $13.21 and a 12-month high of $19.62. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.25. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 9.71 and a beta of 1.07.

Provident Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, April 29th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date is Friday, April 26th. Provident Financial Services’s dividend payout ratio is currently 60.00%.

Insider Buying and Selling at Provident Financial Services

In other Provident Financial Services news, Director Robert Mcnerney sold 5,000 shares of the 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 4.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc purchased a new position in shares of Provident Financial Services in the 3rd quarter valued at about $271,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Provident Financial Services by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 889,829 shares of the savings and loans company’s stock valued at $13,605,000 after acquiring an additional 60,765 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Provident Financial Services by 76.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 109,041 shares of the savings and loans company’s stock valued at $1,667,000 after acquiring an additional 47,217 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Provident Financial Services in the 3rd quarter valued at about $681,000. Finally, Caxton Associates LP purchased a new position in shares of Provident Financial Services in the 3rd quarter valued at about $573,000. 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.