Analysts Offer Predictions for Provident Financial Services, Inc.’s Q2 2024 Earnings (NYSE:PFS)

Provident Financial Services, Inc. (NYSE:PFS) – DA Davidson issued their Q2 2024 EPS estimates for shares of Provident Financial Services in a research report issued to clients and investors on Tuesday, April 23rd. DA Davidson analyst M. Navas anticipates that the savings and loans company will post earnings per share of $0.15 for the quarter. 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 $1.53 per share. DA Davidson also issued estimates for Provident Financial Services’ FY2024 earnings at $1.75 EPS.

PFS has been the topic of a number of other research reports. Royal Bank of Canada lifted their target price on shares of Provident Financial Services from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday. StockNews.com upgraded shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet cut shares of Provident Financial Services from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Provident Financial Services from $20.00 to $17.00 and set a “market perform” rating on the stock 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Provident Financial Services Stock Performance

Provident Financial Services stock opened at $15.53 on Wednesday. The stock has a market cap of $1.17 billion, a P/E ratio of 9.71 and a beta of 1.07. The firm’s fifty day moving average price is $14.75 and its 200-day moving average price is $15.66. Provident Financial Services has a fifty-two week low of $13.21 and a fifty-two week high of $19.62. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.07 and a current ratio of 1.08.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings data on Friday, April 19th. The savings and loans company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $114.48 million for 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 business’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS.

Institutional Investors Weigh In On Provident Financial Services

A number of large investors have recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in shares of Provident Financial Services by 3.1% during the 3rd quarter. American Century Companies Inc. now owns 2,261,425 shares of the savings and loans company’s stock valued at $34,577,000 after purchasing an additional 68,856 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in shares of Provident Financial Services by 1.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,885,897 shares of the savings and loans company’s stock valued at $34,003,000 after purchasing an additional 34,730 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Provident Financial Services by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 938,254 shares of the savings and loans company’s stock valued at $16,917,000 after purchasing an additional 48,425 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Provident Financial Services by 1.9% during the 4th quarter. Victory Capital Management Inc. now owns 630,297 shares of the savings and loans company’s stock valued at $11,364,000 after purchasing an additional 11,778 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Provident Financial Services during the 4th quarter valued at about $9,419,000. Institutional investors own 71.97% of the company’s stock.

Insider Buying and Selling at Provident Financial Services

In other Provident Financial Services news, Director Robert Mcnerney sold 5,000 shares of the business’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 transaction, the director now owns 9,475 shares in the company, valued at $169,223.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.44% of the company’s stock.

Provident Financial Services Dividend Announcement

The company also recently disclosed 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 dividend yield of 6.18%. The ex-dividend date is Friday, April 26th. Provident Financial Services’s payout ratio is 60.00%.

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.