DA Davidson Comments on Provident Financial Services, Inc.’s FY2025 Earnings (NYSE:PFS)

Provident Financial Services, Inc. (NYSE:PFS) – Analysts at DA Davidson raised their FY2025 earnings estimates for Provident Financial Services in a note issued to investors on Tuesday, April 23rd. DA Davidson analyst M. Navas now expects that the savings and loans company will post earnings of $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 price objective 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 released its quarterly earnings data 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. The business 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%. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS.

PFS has been the subject of several other reports. TheStreet cut shares of Provident Financial Services from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. StockNews.com raised shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada boosted their price target on shares of Provident Financial Services from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Provident Financial Services from $20.00 to $17.00 and set a “market perform” rating for the company in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Provident Financial Services Price Performance

Provident Financial Services stock opened at $15.20 on Thursday. The stock has a market cap of $1.15 billion, a P/E ratio of 9.50 and a beta of 1.07. The company has a fifty day simple moving average of $14.74 and a 200-day simple moving average of $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.

Institutional Investors Weigh In On Provident Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in PFS. TFO Wealth Partners LLC raised its holdings in shares of Provident Financial Services by 17,508.3% in the fourth quarter. TFO Wealth Partners LLC now owns 2,113 shares of the savings and loans company’s stock valued at $38,000 after buying an additional 2,101 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Provident Financial Services by 1,728.7% during the fourth quarter. International Assets Investment Management LLC now owns 7,333 shares of the savings and loans company’s stock worth $132,000 after acquiring an additional 6,932 shares during the period. Oak Thistle LLC acquired a new position in shares of Provident Financial Services during the fourth quarter worth about $202,000. Orion Portfolio Solutions LLC increased its stake in shares of Provident Financial Services by 8.9% during the third quarter. Orion Portfolio Solutions LLC now owns 14,434 shares of the savings and loans company’s stock worth $221,000 after acquiring an additional 1,184 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Provident Financial Services by 41.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,016 shares of the savings and loans company’s stock worth $230,000 after acquiring an additional 4,403 shares during the period. 71.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $89,300.00. Following the completion of the sale, the director now directly owns 9,475 shares of the company’s stock, valued at $169,223.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.29% of the company’s stock.

Provident Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, April 29th will be issued a $0.24 dividend. The ex-dividend date is Friday, April 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.32%. Provident Financial Services’s payout ratio is 60.00%.

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.