What is DA Davidson’s Estimate for PFS Q4 Earnings?

Provident Financial Services, Inc. (NYSE:PFS) – Research analysts at DA Davidson issued their Q4 2024 earnings per share estimates for shares of Provident Financial Services in a report issued on Friday, November 1st. DA Davidson analyst M. Navas forecasts 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.

Several other research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods upgraded Provident Financial Services from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $20.00 to $21.00 in a research report on Thursday, August 15th. StockNews.com lowered Provident Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada increased their target price on Provident Financial Services from $18.00 to $21.00 and gave the stock an “outperform” rating in a report 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, Provident Financial Services presently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

Provident Financial Services Stock Up 0.9 %

PFS opened at $18.85 on Monday. Provident Financial Services has a 1-year low of $13.07 and a 1-year high of $19.97. The stock’s fifty day simple moving average is $18.64 and its 200 day simple moving average is $16.72. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.02. The stock has a market cap of $2.46 billion, a PE ratio of 18.13 and a beta of 1.03.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $211.25 million. During the same quarter in the prior year, the company earned $0.38 EPS.

Provident Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.09%. Provident Financial Services’s payout ratio is 92.31%.

Insiders Place Their Bets

In related news, EVP Vito Giannola sold 5,499 shares of the stock in a transaction dated Tuesday, August 20th. The stock was 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 directly owns 88,656 shares in the company, valued at $1,603,787.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its holdings in shares of Provident Financial Services by 269.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 77,382 shares of the savings and loans company’s stock worth $1,127,000 after purchasing an additional 56,410 shares during the last quarter. SG Americas Securities LLC purchased a new position in Provident Financial Services in the first quarter worth about $544,000. Renaissance Technologies LLC purchased a new position in shares of Provident Financial Services during the second quarter valued at approximately $6,990,000. Thrivent Financial for Lutherans boosted its holdings in shares of Provident Financial Services by 37.8% in the second quarter. Thrivent Financial for Lutherans now owns 222,849 shares of the savings and loans company’s stock valued at $3,198,000 after purchasing an additional 61,179 shares during the period. Finally, Foundry Partners LLC purchased a new stake in shares of Provident Financial Services in the second quarter valued at approximately $2,613,000. Institutional investors own 71.97% of the company’s stock.

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.