Salzhauer Michael Increases Stock Holdings in Provident Financial Services, Inc $PFS

Salzhauer Michael grew its position in Provident Financial Services, Inc (NYSE:PFS) by 50.1% during the 4th quarter, Holdings Channel reports. The fund owned 128,203 shares of the savings and loans company’s stock after buying an additional 42,805 shares during the quarter. Provident Financial Services comprises about 1.0% of Salzhauer Michael’s holdings, making the stock its 21st biggest position. Salzhauer Michael’s holdings in Provident Financial Services were worth $2,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D boosted its holdings in shares of Provident Financial Services by 5.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 119,759 shares of the savings and loans company’s stock valued at $2,365,000 after acquiring an additional 6,617 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Provident Financial Services by 17.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 17,961 shares of the savings and loans company’s stock valued at $355,000 after acquiring an additional 2,649 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Provident Financial Services in the fourth quarter valued at about $205,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of Provident Financial Services by 9.9% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,097 shares of the savings and loans company’s stock valued at $634,000 after acquiring an additional 2,903 shares in the last quarter. Finally, Key Capital Management INC purchased a new stake in shares of Provident Financial Services in the fourth quarter valued at about $26,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PFS. Piper Sandler started coverage on shares of Provident Financial Services in a report on Monday, March 16th. They issued an “overweight” rating and a $25.00 target price on the stock. Keefe, Bruyette & Woods lifted their price target on Provident Financial Services from $23.00 to $25.00 and gave the company an “outperform” rating in a research note 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 started coverage on Provident Financial Services in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $25.00 price target on the stock. Finally, Weiss Ratings upgraded Provident Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $24.08.

Provident Financial Services Stock Up 1.3%

PFS opened at $22.72 on Friday. The business’s fifty day moving average is $21.56 and its two-hundred day moving average is $20.66. 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 cap of $2.97 billion, a price-to-earnings ratio of 9.67 and a beta of 0.81. Provident Financial Services, Inc has a one year low of $15.92 and a one year high of $23.98.

Provident Financial Services (NYSE:PFS) last posted its earnings results on Wednesday, April 29th. The savings and loans company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $225.62 million. Provident Financial Services had a return on equity of 11.07% and a net margin of 21.95%.Provident Financial Services’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. Analysts anticipate that Provident Financial Services, Inc will post 2.34 EPS for the current fiscal year.

Provident Financial Services announced that its Board of Directors has initiated a stock repurchase plan on Monday, January 26th that allows the company to repurchase $2.81 million in outstanding 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Provident Financial Services Announces Dividend

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

Provident Financial Services News Roundup

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

Provident Financial Services 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.