Analysts Set Provident Financial Services, Inc. (PFS) PT at $28.10

Provident Financial Services, Inc. (NYSE:PFS) has been assigned an average rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $28.10.

Several equities research analysts recently issued reports on PFS shares. Sandler O’Neill lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Piper Jaffray Companies reiterated a “hold” rating and issued a $28.00 target price on shares of Provident Financial Services in a report on Tuesday, January 9th. ValuEngine upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Provident Financial Services in a report on Friday, October 27th.

In related news, Director Frank L. Fekete sold 9,000 shares of Provident Financial Services stock in a transaction 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 owns 48,903 shares in the company, valued at approximately $1,336,518.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlos Hernandez sold 3,000 shares of Provident Financial Services stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $27.58, for a total transaction of $82,740.00. Following the completion of the transaction, the director now owns 81,958 shares in the company, valued at approximately $2,260,401.64. The disclosure for this sale can be found here. Insiders sold a total of 18,100 shares of company stock worth $502,377 in the last quarter. Insiders own 2.90% of the company’s stock.

Several large investors have recently bought and sold shares of PFS. Beacon Investment Advisory Services Inc. bought a new position in shares of Provident Financial Services during the 3rd quarter worth about $30,934,000. Thrivent Financial For Lutherans boosted its position in shares of Provident Financial Services by 84.4% during the 4th 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 in the last quarter. BlackRock Inc. boosted its position in shares of Provident Financial Services by 3.8% during the 4th 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 in the last quarter. M3F Inc. acquired a new stake in shares of Provident Financial Services during the 4th quarter valued at about $4,133,000. Finally, Millennium Management LLC boosted its position in shares of Provident Financial Services by 69.5% during the 4th 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 in the last quarter. Institutional investors own 64.36% of the company’s stock.

Provident Financial Services (NYSE PFS) traded down $0.11 during mid-day trading on Friday, hitting $25.82. 25,864 shares of the company traded hands, compared to its average volume of 186,469. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.08 and a current ratio of 1.12. Provident Financial Services has a 1-year low of $23.19 and a 1-year high of $28.76. The firm has a market cap of $1,725.25, a price-to-earnings ratio of 17.76, a PEG ratio of 1.76 and a beta of 0.94.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings data on Friday, January 26th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Provident Financial Services had a net margin of 24.75% and a return on equity of 7.61%. The business had revenue of $85.20 million during the quarter, compared to analyst estimates of $85.36 million. During the same period in the previous year, the firm posted $0.35 EPS. sell-side analysts anticipate that Provident Financial Services will post 1.84 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 15th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $0.80 annualized dividend and a yield of 3.10%. Provident Financial Services’s dividend payout ratio (DPR) is presently 54.79%.

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About Provident Financial Services

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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