Provident Financial Services (PFS) PT Raised at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods analyst Timothy Switzer raised the price target on Provident Financial Services (NYSE: PFS) to $25.00 (from $23.00) while maintaining an Outperform rating.

The analyst commented: "PFS shares were trading up 5% mid-way through Wednesday trading after reporting a solid earnings beat in Q4. Core PPNR matched our estimate and guidance was generally in line, resulting in minimal revisions to our model, with the positive market reaction likely reflective of the company’s impressive execution and strong outlook. PFS has now strung together four straight quarters of sequentially improving PPNR ROA (7 straight improving y/y) with each quarter in 2025 beating Street estimates. The outlook looks solid too with accelerating loan originations, continued core NIM expansion, a liability-sensitive balance sheet, fee business momentum, and a thoughtful organic investment strategy. We are raising our price target and reiterate our Outperform rating."

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