Keefe, Bruyette & Woods Issues Positive Forecast for Provident Financial Services (NYSE:PFS) Stock Price

Provident Financial Services (NYSE:PFS) had its target price hoisted by Keefe, Bruyette & Woods from $25.00 to $26.00 in a research note issued to investors on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the savings and loans company’s stock.

PFS has been the topic of several other reports. Weiss Ratings upgraded shares of Provident Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. DA Davidson began coverage on shares of Provident Financial Services in a research report on Wednesday, February 25th. They set a “neutral” rating and a $25.00 price objective for the company. Royal Bank Of Canada set a $25.00 target price on Provident Financial Services in a research report on Thursday, January 29th. Finally, Piper Sandler started coverage on Provident Financial Services in a research note on Monday, March 16th. They set an “overweight” rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Provident Financial Services has a consensus rating of “Buy” and a consensus price target of $23.92.

Provident Financial Services Stock Performance

Shares of PFS stock traded down $0.31 during trading hours on Friday, reaching $22.37. 1,329,920 shares of the company’s stock were exchanged, compared to its average volume of 939,349. Provident Financial Services has a fifty-two week low of $15.92 and a fifty-two week high of $23.98. The stock has a market capitalization of $2.92 billion, a P/E ratio of 9.52 and a beta of 0.80. The business has a fifty day moving average price of $21.56 and a 200-day moving average price of $20.66. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 1.03.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings data on Wednesday, April 29th. The savings and loans company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.06. Provident Financial Services had a net margin of 21.95% and a return on equity of 10.98%. The business had revenue of $225.20 million for the quarter, compared to the consensus estimate of $225.62 million. During the same quarter last year, the company posted $0.49 earnings per share. Provident Financial Services’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts predict that Provident Financial Services will post 2.34 EPS for the current fiscal year.

Provident Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, May 15th. Provident Financial Services’s dividend payout ratio is 40.85%.

Provident Financial Services declared that its board has initiated a stock buyback program on Monday, January 26th that allows the company to repurchase $2.81 million in shares. This repurchase authorization allows the savings and loans company to buy up to 0.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Provident Financial Services

Several large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its position in shares of Provident Financial Services by 2,957.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 787,172 shares of the savings and loans company’s stock worth $15,547,000 after purchasing an additional 761,427 shares in the last quarter. American Century Companies Inc. boosted its position in Provident Financial Services by 40.4% in the third quarter. American Century Companies Inc. now owns 2,308,774 shares of the savings and loans company’s stock valued at $44,513,000 after buying an additional 664,021 shares in the last quarter. Wellington Management Group LLP boosted its position in Provident Financial Services by 10.0% in the third quarter. Wellington Management Group LLP now owns 6,359,098 shares of the savings and loans company’s stock valued at $122,603,000 after buying an additional 576,673 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Provident Financial Services by 38.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,239,628 shares of the savings and loans company’s stock worth $24,483,000 after buying an additional 342,301 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Provident Financial Services by 251.3% during the second quarter. AQR Capital Management LLC now owns 413,107 shares of the savings and loans company’s stock worth $7,242,000 after buying an additional 295,521 shares in the last quarter. 71.97% of the stock is currently owned by institutional investors.

Provident Financial Services News Summary

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

• Positive Sentiment: Q1 earnings beat — Provident reported $0.61 EPS vs. $0.55 consensus and net income of $79.4M, with revenue up ~7.9% year?over?year, showing core profitability and top?line growth. PFS Beats Q1 Estimates
• Positive Sentiment: Analyst upgrade and higher target — Keefe, Bruyette & Woods raised its price target to $26 and kept an “Outperform” rating, implying meaningful upside from current levels and providing fresh buy?side support. KBW Raises PT to $26
• Positive Sentiment: Dividend announced — Board declared a $0.24 quarterly dividend (annualized yield ~4.2%), supporting income investors and helping to anchor valuation. Dividend Declaration
• Neutral Sentiment: Management reaffirmed growth targets — Provident signaled 2026 NIM of 3.40%–3.45% while reaffirming 4%–6% loan and deposit growth, which maintains expectations but does not accelerate them. Investors will watch NIM trajectory closely. NIM and Growth Outlook
• Neutral Sentiment: Conference call takeaways — Management framed the quarter as steady with diversification and credit quality in focus; read the Q1 highlights for details on strategy and execution. Q1 Call Highlights
• Negative Sentiment: Revenue narrowly missed consensus — Reported revenue was $225.20M vs. $225.62M expected, a slight miss that may temper enthusiasm despite the EPS beat. Revenue vs Estimates

About Provident Financial Services

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.