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%.
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.
Receive News & Ratings for Provident Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.