Q4 Earnings Estimate for PFS Issued By DA Davidson

Provident Financial Services, Inc. (NYSE:PFS - Free Report) - Stock analysts at DA Davidson issued their Q4 2024 earnings per share estimates for shares of Provident Financial Services in a research note issued to investors on Friday, November 1st. DA Davidson analyst M. Navas forecasts that the savings and loans company will post earnings of $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.

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

Provident Financial Services Stock Down 1.6 %

Shares of PFS stock traded down $0.30 during midday trading on Monday, reaching $18.55. 400,268 shares of the stock were exchanged, compared to its average volume of 887,079. Provident Financial Services has a 1 year low of $13.07 and a 1 year high of $19.97. The firm has a market cap of $2.42 billion, a PE ratio of 17.84 and a beta of 1.03. The company's 50 day moving average is $18.63 and its two-hundred day moving average is $16.75. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.02.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC lifted its stake in Provident Financial Services by 991.2% during the 2nd quarter. Signaturefd LLC now owns 1,855 shares of the savings and loans company's stock valued at $27,000 after acquiring an additional 1,685 shares during the period. Rise Advisors LLC bought a new position in Provident Financial Services during the second quarter valued at approximately $29,000. Nisa Investment Advisors LLC boosted its holdings in Provident Financial Services by 43.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,050 shares of the savings and loans company's stock worth $58,000 after purchasing an additional 1,218 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Provident Financial Services in the first quarter worth approximately $76,000. Finally, International Assets Investment Management LLC grew its position in Provident Financial Services by 1,779.7% in the 3rd quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company's stock worth $146,000 after purchasing an additional 7,457 shares during the period. 71.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Vito Giannola sold 5,499 shares of the firm's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $18.09, for a total transaction 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 $1,603,787.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.29% of the stock is currently owned by company insiders.

Provident Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend is Friday, November 15th. Provident Financial Services's dividend payout ratio is presently 92.31%.

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.