Provident Financial Services, Inc. (PFS) Receives $28.10 Average Price Target from Analysts

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.

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

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