Provident Financial Services, Inc. (NYSE:PFS) has been assigned an average recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $28.10.
PFS has been the subject of a number of analyst reports. ValuEngine raised Provident Financial Services from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Wednesday, November 1st. Sandler O’Neill raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Friday, January 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a report on Monday, January 29th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $28.00 price target on shares of Provident Financial Services in a report on Tuesday, January 9th.
In other Provident Financial Services news, EVP Donald W. Blum sold 6,100 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $28.47, for a total transaction of $173,667.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank L. Fekete sold 9,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.33, for a total value of $245,970.00. Following the transaction, the director now directly owns 48,903 shares of the company’s stock, valued at approximately $1,336,518.99. The disclosure for this sale can be found here. Insiders have sold 18,100 shares of company stock valued at $502,377 in the last three months. Insiders own 2.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in PFS. Beacon Investment Advisory Services Inc. acquired a new position in shares of Provident Financial Services during the third quarter valued at approximately $30,934,000. Thrivent Financial For Lutherans raised its holdings in shares of Provident Financial Services by 84.4% during the fourth quarter. Thrivent Financial For Lutherans now owns 715,975 shares of the savings and loans company’s stock valued at $19,310,000 after acquiring an additional 327,795 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Provident Financial Services by 3.8% during the fourth quarter. BlackRock Inc. now owns 8,069,971 shares of the savings and loans company’s stock valued at $217,648,000 after acquiring an additional 294,452 shares during the last quarter. M3F Inc. acquired a new position in shares of Provident Financial Services during the fourth quarter valued at approximately $4,133,000. Finally, Millennium Management LLC raised its holdings in shares of Provident Financial Services by 69.5% during the fourth quarter. Millennium Management LLC now owns 343,518 shares of the savings and loans company’s stock valued at $9,265,000 after acquiring an additional 140,816 shares during the last quarter. 64.36% of the stock is owned by institutional investors and hedge funds.
Provident Financial Services (NYSE PFS) traded down $0.18 during midday trading on Friday, reaching $25.65. The company had a trading volume of 92,286 shares, compared to its average volume of 184,330. The firm has a market cap of $1,705.96, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.74 and a beta of 0.94. Provident Financial Services has a 12 month low of $23.19 and a 12 month high of $28.76. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 1.36.
Provident Financial Services (NYSE:PFS) last released its quarterly earnings results on Friday, January 26th. The savings and loans company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $85.20 million during the quarter, compared to analyst estimates of $85.36 million. Provident Financial Services had a return on equity of 7.61% and a net margin of 24.75%. During the same period in the previous year, the company posted $0.35 EPS. equities analysts anticipate that Provident Financial Services will post 1.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.12%. Provident Financial Services’s payout ratio is currently 54.79%.
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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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