Provident Financial Services (NYSE:PFS) Price Target Raised to $26.00

Provident Financial Services (NYSE:PFS) had its price objective hoisted by investment analysts at Keefe, Bruyette & Woods from $25.00 to $26.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 15.27% from the stock’s previous close.

A number of other brokerages have also commented on PFS. DA Davidson started coverage on shares of Provident Financial Services in a report on Wednesday, February 25th. They set a “neutral” rating and a $25.00 price objective on the stock. Piper Sandler started coverage on shares of Provident Financial Services in a research note on Monday, March 16th. They issued an “overweight” rating and a $25.00 target price on the stock. Royal Bank Of Canada set a $25.00 target price on shares of Provident Financial Services in a research note on Thursday, January 29th. Finally, Weiss Ratings raised shares of Provident Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $24.25.

Provident Financial Services Price Performance

Shares of Provident Financial Services stock traded down $0.13 during mid-day trading on Friday, reaching $22.56. 254,988 shares of the stock were exchanged, compared to its average volume of 949,726. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 9.61 and a beta of 0.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.90. The firm has a 50-day simple moving average of $21.56 and a 200 day simple moving average of $20.66. Provident Financial Services has a fifty-two week low of $15.92 and a fifty-two week high of $23.98.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Thursday, April 30th. The savings and loans company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. The business had revenue of $225.20 million during the quarter, compared to analysts’ expectations of $225.62 million. Provident Financial Services had a net margin of 21.95% and a return on equity of 11.07%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. On average, sell-side analysts predict that Provident Financial Services will post 2.34 EPS for the current fiscal year.

Provident Financial Services announced that its Board of Directors has authorized a share repurchase plan on Monday, January 26th that permits the company to repurchase $2.81 million in outstanding shares. This repurchase authorization permits the savings and loans company to purchase up to 0.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Provident Financial Services

Hedge funds have recently modified their holdings of the company. Citizens Financial Group Inc. RI acquired a new stake in Provident Financial Services during the 3rd quarter worth approximately $1,182,000. Teacher Retirement System of Texas raised its holdings in Provident Financial Services by 155.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 48,184 shares of the savings and loans company’s stock worth $929,000 after buying an additional 29,356 shares during the period. Alps Advisors Inc. acquired a new stake in Provident Financial Services during the 3rd quarter worth approximately $444,000. American Century Companies Inc. raised its holdings in Provident Financial Services by 40.4% during the 3rd quarter. American Century Companies Inc. now owns 2,308,774 shares of the savings and loans company’s stock worth $44,513,000 after buying an additional 664,021 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Provident Financial Services by 14.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 509,475 shares of the savings and loans company’s stock worth $9,823,000 after buying an additional 64,026 shares during the period. 71.97% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Provident Financial Services

Here are the key news stories impacting Provident Financial Services this week:

• Positive Sentiment: Q1 earnings beat and year-over-year profit growth: Provident reported EPS of $0.61, beating consensus (~$0.55) and showing healthy operating revenue drivers (net interest income expansion and higher insurance agency income). This supports valuation given a sub?10x P/E. Q1 Earnings Press Release
• Positive Sentiment: Declared a cash dividend of $0.24 per share (annualized yield ~4.3%): a steady, income-supporting move that should appeal to yield-seeking investors. Ex-dividend/record/payable dates announced. Dividend Press Release
• Positive Sentiment: Management reaffirmed target loan and deposit growth of 4%–6% and emphasized diversification (insurance agency income growth): suggests continued top-line expansion and a less rate?sensitive revenue mix. Guidance / Reaffirmation Article
• Neutral Sentiment: 2026 NIM guidance set to 3.40%–3.45%: management published a net interest margin outlook — useful for modeling—but the market interpretation depends on prior expectations; could limit upside if investors expected higher margins. NIM Outlook Article
• Neutral Sentiment: Q1 benefited from a $2.1M recapture of prior credit loss provisions — a modest one?time boost to net income that investors should strip out when forecasting recurring earnings. Earnings Press Release
• Negative Sentiment: Revenue roughly in line but narrowly missed consensus ($225.20M vs. $225.62M) and the NIM outlook may signal limited margin expansion — together these elements likely pressured the stock today. Investors may be selling on guidance conservatism despite the EPS beat. Earnings Summary / Call Transcript

Provident Financial Services Company Profile

Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.

Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.