Salzhauer Michael Grows Stake in Provident Financial Services, Inc $PFS

Salzhauer Michael grew its holdings in Provident Financial Services, Inc (NYSE:PFS) by 50.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 128,203 shares of the savings and loans company’s stock after acquiring an additional 42,805 shares during the quarter. Provident Financial Services comprises 1.0% of Salzhauer Michael’s investment portfolio, making the stock its 21st biggest holding. Salzhauer Michael owned about 0.10% of Provident Financial Services worth $2,532,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Salomon & Ludwin LLC purchased a new position in shares of Provident Financial Services in the 3rd quarter valued at about $26,000. Key Capital Management INC purchased a new position in shares of Provident Financial Services in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC grew its position in shares of Provident Financial Services by 358.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the savings and loans company’s stock valued at $27,000 after buying an additional 1,210 shares during the last quarter. Danske Bank A S purchased a new position in shares of Provident Financial Services in the 3rd quarter valued at $58,000. Finally, Hillsdale Investment Management Inc. grew its position in shares of Provident Financial Services by 40.9% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 3,100 shares of the savings and loans company’s stock valued at $60,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 71.97% of the company’s stock.

Key Headlines Impacting Provident Financial Services

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

• Positive Sentiment: Q1 EPS beat and revenue/earnings drivers — Provident reported net income of $79.4M and EPS of $0.61, beating the consensus $0.55; management cited 13.5% growth in pre-provision net revenue driven by expanding net interest income and higher insurance-agency income. Provident Q1 Earnings Release
• Positive Sentiment: Dividend boost — the board declared a quarterly cash dividend of $0.24 per share payable May 29, 2026 (record date May 15), which supports income-oriented investors and can underpin the share price. Dividend Announcement
• Positive Sentiment: Street confirmation — multiple outlets highlighted the EPS beat and improving metrics, reinforcing analyst confidence and short-term sentiment. Zacks: Beats Q1 Estimates
• Neutral Sentiment: Revenue roughly in line — Q1 revenue was $225.2M versus estimates near $225.5M, so top-line results were essentially neutral vs. expectations. Revenue Details
• Neutral Sentiment: Investor materials and transcript available — the earnings presentation and call transcript are posted for deeper read-throughs (useful for assessing forward commentary but not new news). Earnings Presentation
• Negative Sentiment: Sequential earnings softness — net income and EPS declined slightly from the prior quarter (Q4 net income $83.4M / EPS $0.64 to Q1 $79.4M / $0.61), which may temper momentum if investors expected sequential improvement. Sequential Comparison

Wall Street Analyst Weigh In

A number of research analysts recently commented on PFS shares. Weiss Ratings raised shares of Provident Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Keefe, Bruyette & Woods increased their target price on shares of Provident Financial Services from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Royal Bank Of Canada set a $25.00 price target on Provident Financial Services in a research note on Thursday, January 29th. DA Davidson assumed coverage on Provident Financial Services in a research note on Wednesday, February 25th. They set a “neutral” rating and a $25.00 price target on the stock. Finally, Piper Sandler assumed 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 research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Provident Financial Services currently has a consensus rating of “Buy” and a consensus target price of $24.08.

Provident Financial Services Trading Up 1.3%

Shares of Provident Financial Services stock opened at $22.72 on Friday. Provident Financial Services, Inc has a 1 year low of $15.92 and a 1 year high of $23.98. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $2.97 billion, a P/E ratio of 9.67 and a beta of 0.81. The company’s fifty day moving average is $21.56 and its two-hundred day moving average is $20.66.

Provident Financial Services (NYSE:PFS) last issued 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 11.07%. The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $225.62 million. During the same period last year, the firm posted $0.49 EPS. Provident Financial Services’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts forecast that Provident Financial Services, Inc will post 2.34 earnings per share for the current year.

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

Provident Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, May 15th. Provident Financial Services’s dividend payout ratio (DPR) is 40.85%.

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.