PFS

DA Davidson Upgrades Provident Financial Services (PFS)

Fintel reports that on April 22, 2024, DA Davidson upgraded their outlook for Provident Financial Services (NYSE:PFS) from Neutral to Buy.

Analyst Price Forecast Suggests 19.92% Upside

As of April 17, 2024, the average one-year price target for Provident Financial Services is 17.34. The forecasts range from a low of 15.15 to a high of $19.95. The average price target represents an increase of 19.92% from its latest reported closing price of 14.46.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Provident Financial Services is 881MM, an increase of 99.71%. The projected annual non-GAAP EPS is 2.89.

What is the Fund Sentiment?

There are 453 funds or institutions reporting positions in Provident Financial Services. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to PFS is 0.08%, an increase of 4.96%. Total shares owned by institutions decreased in the last three months by 2.74% to 62,373K shares. PFS / Provident Financial Services, Inc. Put/Call Ratios The put/call ratio of PFS is 0.46, indicating a bullish outlook.

What are Other Shareholders Doing?

PFS / Provident Financial Services, Inc. Shares Held by Institutions

IJR - iShares Core S&P Small-Cap ETF holds 5,008K shares representing 6.62% ownership of the company. In it's prior filing, the firm reported owning 5,101K shares, representing a decrease of 1.85%. The firm increased its portfolio allocation in PFS by 0.13% over the last quarter.

American Century Companies holds 2,458K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 2,261K shares, representing an increase of 7.98%. The firm increased its portfolio allocation in PFS by 12.69% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,231K shares representing 2.95% ownership of the company. No change in the last quarter.

DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 1,923K shares representing 2.54% ownership of the company. In it's prior filing, the firm reported owning 1,972K shares, representing a decrease of 2.56%. The firm increased its portfolio allocation in PFS by 0.38% over the last quarter.

Westwood Holdings Group holds 1,886K shares representing 2.49% ownership of the company. In it's prior filing, the firm reported owning 1,851K shares, representing an increase of 1.84%. The firm increased its portfolio allocation in PFS by 8.70% over the last quarter.

Provident Financial Services Background Information
(This description is provided by the company.)

Provident Bank, a community-oriented financial institution offering 'Commitment you can count on' since 1839, is the wholly owned subsidiary of Provident Financial Services, Inc., which reported assets of $12.92 billion as of December 31, 2020. With $9.84 billion in deposits, Provident Bank provides a comprehensive suite of financial products and services through its network of branches throughout northern and central New Jersey, as well as Bucks, Lehigh and Northampton counties in Pennsylvania and Queens County in New York. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and full service insurance agency and brokerage services through its wholly owned subsidiary, SB One Insurance Agency, Inc.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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