Piper Sandler Reaffirms Overweight Rating for Provident Financial Services (NYSE:PFS)

Provident Financial Services (NYSE:PFS)‘s stock had its “overweight” rating reiterated by Piper Sandler in a report issued on Friday,Benzinga reports. They presently have a $29.00 target price on the savings and loans company’s stock, up from their previous target price of $26.00. Piper Sandler’s target price would indicate a potential upside of 18.01% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. Stephens initiated coverage on Provident Financial Services in a report on Monday, June 8th. They issued an “equal weight” rating and a $24.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Provident Financial Services in a report on Wednesday. DA Davidson restated a “neutral” rating and issued a $23.00 target price on shares of Provident Financial Services in a research report on Friday, May 1st. Raymond James Financial lifted their price target on Provident Financial Services from $25.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods boosted their price target on Provident Financial Services from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Provident Financial Services has an average rating of “Moderate Buy” and an average target price of $26.07.

Provident Financial Services Price Performance

Shares of NYSE PFS traded down $0.28 during trading on Friday, hitting $24.57. The company had a trading volume of 247,996 shares, compared to its average volume of 983,667. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 10.24 and a beta of 0.78. The stock has a fifty day simple moving average of $23.22 and a two-hundred day simple moving average of $22.27. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.03. Provident Financial Services has a fifty-two week low of $17.61 and a fifty-two week high of $25.41.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings results on Thursday, July 30th. The savings and loans company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. Provident Financial Services had a net margin of 22.15% and a return on equity of 11.09%. The firm had revenue of $234.96 million during the quarter, compared to the consensus estimate of $225.57 million. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, research analysts expect that Provident Financial Services will post 2.36 earnings per share for the current year.

Insider Transactions at Provident Financial Services

In related news, CEO George Lista sold 2,556 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $22.40, for a total transaction of $57,254.40. Following the completion of the sale, the chief executive officer owned 109,262 shares of the company’s stock, valued at approximately $2,447,468.80. This represents a 2.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Key Capital Management INC purchased a new stake in shares of Provident Financial Services in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its position in Provident Financial Services by 358.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the savings and loans company’s stock worth $27,000 after buying an additional 1,210 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Provident Financial Services during the fourth quarter worth $33,000. Danske Bank A S purchased a new stake in Provident Financial Services in the 3rd quarter valued at $58,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Provident Financial Services in the 4th quarter worth $73,000. 71.97% of the stock is owned by hedge funds and other institutional investors.

More Provident Financial Services News

Here are the key news stories impacting Provident Financial Services this week:

• Positive Sentiment: Q2 earnings and revenue beat expectations. Provident reported $0.60 in diluted EPS, exceeding the $0.56 consensus estimate and rising from $0.55 a year earlier. Revenue reached $234.96 million versus expectations of $225.57 million. Provident Financial Services Reports Second Quarter Earnings
• Positive Sentiment: Core banking trends improved. Net interest income increased to $202.7 million from $193.7 million in the first quarter and $187.1 million a year earlier. Net interest margin expanded to 3.48% from 3.40% sequentially and 3.36% year over year. Non-interest income also increased, supported by wealth-management and insurance-agency revenue.
• Positive Sentiment: Hovde Group raised its price target. The firm lifted its target from $26.50 to $28.50 and upgraded or reaffirmed an “outperform” rating, implying approximately 14.7% upside from the cited share price. The target increase reinforces the view that PFS’s earnings and valuation remain attractive.
• Positive Sentiment: The dividend was maintained. PFS declared a quarterly cash dividend of $0.24 per share, payable August 28 to shareholders of record August 14. The annualized payout is $0.96 per share, representing an approximately 3.9% yield based on the cited price. Provident Financial Services Declares Quarterly Cash Dividend
• Neutral Sentiment: Second-quarter net income was $78.1 million, or $0.60 per share, slightly below the prior quarter’s $79.4 million, but above the year-ago result. Assets and deposits continued to grow during the first half of 2026.
• Negative Sentiment: Reported insider trading data showed three sales and no purchases during the past six months. While these transactions may be routine, the absence of insider buying offers no additional bullish signal.

About Provident Financial Services

Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.

Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.