Keefe Bruyette lowered the firm’s price target on Provident Financial (PFS) to $17 from $20 and keeps a Market Perform rating on the shares. The analyst reduced estimates to reflect the new $200M sub debt raise and a shift in the timing of the Lakeland Bancorp (LBAI) deal close from the end of Q1 to the end of Q2.
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Read More on PFS:
- Provident Financial Services, Inc. Receives FDIC and New Jersey Department of Banking and Insurance Approvals for its Merger with Lakeland Bancorp, Inc.
- Provident Financial Services Unveils Investor Conference Materials
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- Provident Financial price target lowered to $17 from $19 at DA Davidson
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