Provident Financial Services, Inc. (NYSE: PFS) – DA Davidson stock research analysts increased their estimates of FY2022 EPS for Provident Financial Services in a report released on Monday, May 3. DA Davidson analyst R. Gunther now predicts the savings and loan company will earn $ 1.60 per share for the year, up from its previous forecast of $ 1.50.
Other stock analysts have also published research reports on the stock. Royal Bank of Canada upgraded Provident Financial Services shares from a “sector performance” rating to an “outperformance” rating and increased its price target for the share from $ 23.00 to $ 26.00 in a year. report Thursday, March 11. Boenning Scattergood downgraded Provident Financial Services shares from an “outperformance” rating to a “neutral” rating in a Monday February 1 report. Barclays reaffirmed an “overweight” rating on Provident Financial Services shares in a report on Monday, February 22. Finally, Zacks Investment Research upgraded Provident Financial Services shares from a “hold” rating to a “buy” rating and set a target price of $ 20.00 on the stock in a report on Wednesday, February 3. Two analysts rated the stock with a sustaining rating and four gave the company a buy rating. The company has a consensus rating of “Buy” and a consensus price target of $ 20.33.
Provident Financial Services stock opened at $ 24.29 on Tuesday. The company’s 50-day simple moving average is $ 22.95 and its 200-day simple moving average is $ 19.01. The company has a current ratio of 1.07, a quick ratio of 1.07, and a debt ratio of 0.92. The company has a market cap of $ 1.89 billion, a PE ratio of 19.91 and a beta of 1.04. Provident Financial Services has a one-year minimum of $ 10.55 and a one-year maximum of $ 24.50. Provident Financial Services (NYSE: PFS) last released its results on Thursday, April 29. The savings and loan company reported earnings per share of $ 0.63 for the quarter, beating the Zacks consensus estimate by $ 0.43 by $ 0.20. The company posted revenue of $ 100.53 million for the quarter, compared to analysts’ estimates of $ 111.37 million. Provident Financial Services generated a net margin of 19.45% and a return on equity of 5.64%. Provident Financial Services revenue increased 14.0% year over year. In the same quarter of the previous year, the company posted EPS of $ 0.23.
Several large investors have recently bought and sold shares in the company. Veriti Management LLC acquired a new position in Provident Financial Services during the 4th quarter valued at approximately $ 66,000. KBC Group NV acquired a new position in Provident Financial Services during the first quarter worth approximately $ 86,000. Sowell Financial Services LLC acquired a new position in Provident Financial Services during the 4th quarter valued at approximately $ 112,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Provident Financial Services by 46.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,167 shares of the savings and loan company valued at $ 147,000 after acquiring an additional 2,577 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in Provident Financial Services by 29.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,377 shares of the savings and loan company valued at $ 150,000 after acquiring an additional 1,898 shares during the period. 61.48% of the shares are held by hedge funds and other institutional investors.
In other news from Provident Financial Services, EVP James A. Christy sold 4,000 shares of the stock in a trade on Thursday, March 11. The shares were sold for an average price of $ 23.37, for a total transaction of $ 93,480.00. After the sale closes, the executive vice president now owns 27,227 shares of the company, valued at approximately $ 636,294.99. The sale was disclosed in a file with the Securities & Exchange Commission, available at this link. Company insiders own 3.40% of the shares of the company.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 28. Shareholders of record on Friday, May 14 will receive a dividend of $ 0.23 per share. The ex-dividend date is Thursday May 13. This represents an annualized dividend of $ 0.92 and a return of 3.79%. The payout ratio of Provident Financial Services is currently 52.87%.
Company Profile Provident Financial Services
Provident Financial Services, Inc operates as a banking holding company for Provident Bank which provides various banking products and services to individuals, families and businesses in the United States. The Company’s deposit products include savings, checks, interest-bearing checks, money market deposits and certificates of deposit accounts, as well as IRA products.
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