Fintel reports that on October 30, 2023, RBC Capital maintained coverage of Provident Financial Services (NYSE:PFS) with a Outperform recommendation.
Analyst Price Forecast Suggests 43.44% Upside
As of October 5, 2023, the average one-year price target for Provident Financial Services is 20.20. The forecasts range from a low of 16.16 to a high of $24.15. The average price target represents an increase of 43.44% from its latest reported closing price of 14.08.
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The projected annual revenue for Provident Financial Services is 703MM, an increase of 50.75%. The projected annual non-GAAP EPS is 2.49.
What is the Fund Sentiment?
There are 442 funds or institutions reporting positions in Provident Financial Services. This is a decrease of 24 owner(s) or 5.15% in the last quarter. Average portfolio weight of all funds dedicated to PFS is 0.07%, a decrease of 17.54%. Total shares owned by institutions increased in the last three months by 0.52% to 62,727K shares. The put/call ratio of PFS is 0.46, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF holds 5,217K shares representing 6.95% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 2,231K shares representing 2.97% ownership of the company. No change in the last quarter.
American Century Companies holds 2,193K shares representing 2.92% ownership of the company. In it’s prior filing, the firm reported owning 2,123K shares, representing an increase of 3.16%. The firm decreased its portfolio allocation in PFS by 15.81% over the last quarter.
NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 1,853K shares representing 2.47% ownership of the company. In it’s prior filing, the firm reported owning 1,871K shares, representing a decrease of 0.98%. The firm decreased its portfolio allocation in PFS by 19.73% over the last quarter.
DFSVX – U.s. Small Cap Value Portfolio – Institutional Class holds 1,799K shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 1,923K shares, representing a decrease of 6.86%. The firm decreased its portfolio allocation in PFS by 10.54% 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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