Provident Financial Services, Inc (NYSE:PFS) has been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $27.25.
Several equities research analysts have recently weighed in on PFS shares. Royal Bank Of Canada reiterated a “buy” rating and set a $30.00 price objective on shares of Provident Financial Services in a research report on Friday, September 8th. DA Davidson started coverage on shares of Provident Financial Services in a research note on Friday, September 1st. They set a “neutral” rating and a $25.00 target price on the stock. Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Boenning Scattergood reissued a “hold” rating on shares of Provident Financial Services in a research note on Friday, October 27th. Finally, ValuEngine lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th.
Shares of Provident Financial Services (PFS) traded down $0.33 during midday trading on Monday, reaching $27.50. 296,976 shares of the company’s stock traded hands, compared to its average volume of 194,156. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.08 and a current ratio of 1.08. Provident Financial Services has a 1 year low of $23.19 and a 1 year high of $28.92. The firm has a market cap of $1,858.71, a PE ratio of 18.52, a P/E/G ratio of 1.81 and a beta of 0.97.
Provident Financial Services (NYSE:PFS) last posted its quarterly earnings data on Friday, October 27th. The savings and loans company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. Provident Financial Services had a net margin of 25.90% and a return on equity of 7.61%. The company had revenue of $85.32 million during the quarter, compared to analysts’ expectations of $83.84 million. During the same period in the prior year, the company posted $0.36 earnings per share. analysts expect that Provident Financial Services will post 1.54 EPS for the current year.
The firm also recently disclosed a special dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a $0.15 dividend. This represents a dividend yield of 3.01%. The ex-dividend date is Thursday, December 7th. Provident Financial Services’s dividend payout ratio (DPR) is 52.98%.
In related news, Director Frank L. Fekete sold 9,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $27.33, for a total transaction of $245,970.00. Following the transaction, the director now directly owns 48,903 shares of the company’s stock, valued at $1,336,518.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald W. Blum sold 6,100 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $28.47, for a total transaction of $173,667.00. The disclosure for this sale can be found here. Insiders have sold 25,175 shares of company stock worth $690,186 over the last three months. 2.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its holdings in Provident Financial Services by 0.4% during the second quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the savings and loans company’s stock worth $627,000 after buying an additional 100 shares during the last quarter. Aperio Group LLC purchased a new stake in Provident Financial Services during the second quarter worth about $392,000. Strs Ohio increased its holdings in Provident Financial Services by 5.1% during the second quarter. Strs Ohio now owns 41,500 shares of the savings and loans company’s stock worth $1,053,000 after buying an additional 2,000 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Provident Financial Services by 4.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 14,280 shares of the savings and loans company’s stock worth $362,000 after buying an additional 650 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in Provident Financial Services by 3.4% during the second quarter. Great West Life Assurance Co. Can now owns 87,262 shares of the savings and loans company’s stock worth $2,213,000 after buying an additional 2,900 shares during the last quarter. 63.97% of the stock is currently owned by institutional investors.
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Provident Financial Services Company Profile
Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.
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