Q4 Earnings Estimate for PFS Issued By DA Davidson

Provident Financial Services, Inc. (NYSE:PFS) – Research analysts at DA Davidson issued their Q4 2024 earnings estimates for shares of Provident Financial Services in a note issued to investors on Friday, November 1st. DA Davidson analyst M. Navas expects that the savings and loans company will earn $0.51 per share for the quarter. The consensus estimate for Provident Financial Services’ current full-year earnings is $1.70 per share. DA Davidson also issued estimates for Provident Financial Services’ FY2025 earnings at $2.15 EPS.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.11). Provident Financial Services had a return on equity of 5.21% and a net margin of 9.55%. The company had revenue of $349.38 million during the quarter, compared to the consensus estimate of $211.25 million. During the same period in the prior year, the firm posted $0.38 EPS.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of Provident Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Royal Bank of Canada raised their price target on Provident Financial Services from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods upgraded Provident Financial Services from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $20.00 to $21.00 in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat, Provident Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

Provident Financial Services Stock Performance

Shares of PFS opened at $18.55 on Monday. Provident Financial Services has a 1 year low of $13.07 and a 1 year high of $19.97. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s fifty day moving average price is $18.63 and its two-hundred day moving average price is $16.75. The firm has a market cap of $2.42 billion, a PE ratio of 17.84 and a beta of 1.03.

Institutional Investors Weigh In On Provident Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp grew its stake in Provident Financial Services by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 66,113 shares of the savings and loans company’s stock worth $963,000 after purchasing an additional 885 shares during the period. ProShare Advisors LLC grew its stake in shares of Provident Financial Services by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 14,856 shares of the savings and loans company’s stock worth $216,000 after buying an additional 1,020 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Provident Financial Services by 43.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,050 shares of the savings and loans company’s stock valued at $58,000 after buying an additional 1,218 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Provident Financial Services by 3.9% during the first quarter. Illinois Municipal Retirement Fund now owns 43,930 shares of the savings and loans company’s stock valued at $640,000 after buying an additional 1,637 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Provident Financial Services by 991.2% in the second quarter. Signaturefd LLC now owns 1,855 shares of the savings and loans company’s stock worth $27,000 after acquiring an additional 1,685 shares in the last quarter. 71.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Vito Giannola sold 5,499 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $18.09, for a total value of $99,476.91. Following the completion of the sale, the executive vice president now owns 88,656 shares of the company’s stock, valued at approximately $1,603,787.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.29% of the stock is currently owned by corporate insiders.

Provident Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, November 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.18%. Provident Financial Services’s dividend payout ratio is 92.31%.

Provident Financial Services Company Profile

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.