Provident Financial Approves Buyback Plan for Up to 2.81M Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
Provident Financial Services announced that its Board of Directors has authorized the Company's tenth stock repurchase program, which will begin upon the completion of the existing stock repurchase program, which has 814,247 shares remaining available for repurchase. Under the new authorization, together with the remaining shares available under the existing authorization, the Company may repurchase up to 2.15% of its currently outstanding shares of common stock, or approximately 2.81M shares.
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Analyst Views on PFS
Wall Street analysts forecast PFS stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for PFS is 22.00 USD with a low forecast of 22.00 USD and a high forecast of 22.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 22.220
Low
22.00
Averages
22.00
High
22.00
Current: 22.220
Low
22.00
Averages
22.00
High
22.00
About PFS
Provident Financial Services, Inc. is the holding company for Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank operating full-service branch offices throughout New Jersey, Bucks, Lehigh and Northampton counties in Pennsylvania, as well as Orange, Queens and Nassau Counties in New York. The Bank attracts deposits from the general public and businesses primarily in the areas surrounding its banking offices and uses those funds, together with funds generated from operations and borrowings, to originate commercial real estate loans, commercial business loans, residential mortgage loans, and consumer loans. The Bank invests in mortgage-backed securities and other permissible investments. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc. The Bank has approximately 140 branches.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
PROVIDENT FINANCIAL SERVICES REPORTS Q4 REVENUE OF USD 225.7 MILLION, BEATING IBES ESTIMATE OF USD 207.6 MILLION
- Q4 Revenue Performance: Provident Financial Services reported a Q4 revenue of USD 225.7 million.
- Comparison to Estimates: This figure exceeds the Ibes estimate of USD 207.6 million.
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PROVIDENT FINANCIAL SERVICES REPORTS Q4 EPS OF USD 0.64
- Financial Services Overview: Provident Financial Services reported an earnings per share (EPS) of $0.64 for the fourth quarter.
- Performance Metrics: The EPS figure indicates the company's profitability and financial health during the specified period.
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