DA Davidson Lowers Provident Financial Services (NYSE:PFS) Price Target to $15.00

Provident Financial Services (NYSE:PFS) had its price objective lowered by equities researchers at DA Davidson from $17.00 to $15.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the savings and loans company’s stock. DA Davidson’s target price points to a potential upside of 4.09% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada lowered their price objective on Provident Financial Services from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods reduced their target price on Provident Financial Services from $20.00 to $17.00 and set a “market perform” rating for the company in a research note on Tuesday. Finally, TheStreet downgraded Provident Financial Services from a “b-” rating to a “c+” rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Provident Financial Services presently has an average rating of “Hold” and a consensus price target of $17.75.

Provident Financial Services Stock Up 0.2 %

Shares of PFS stock traded up $0.03 during trading hours on Thursday, reaching $14.41. 181,023 shares of the company’s stock were exchanged, compared to its average volume of 626,454. The stock’s fifty day moving average price is $15.60 and its two-hundred day moving average price is $15.81. The stock has a market cap of $1.09 billion, a PE ratio of 8.42 and a beta of 1.07. Provident Financial Services has a 1 year low of $13.43 and a 1 year high of $19.80. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.19.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Friday, January 26th. The savings and loans company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The firm had revenue of $114.76 million during the quarter, compared to analysts’ expectations of $114.30 million. Provident Financial Services had a net margin of 18.46% and a return on equity of 7.88%. Provident Financial Services’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. Research analysts predict that Provident Financial Services will post 1.68 EPS for the current year.

Insider Transactions at Provident Financial Services

In other Provident Financial Services news, Director Robert Mcnerney sold 5,000 shares of Provident Financial Services stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $17.86, for a total transaction of $89,300.00. Following the transaction, the director now owns 9,475 shares of the company’s stock, valued at $169,223.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Holdings Inc. grew its holdings in Provident Financial Services by 35.7% in the first quarter. Advisor Group Holdings Inc. now owns 1,785 shares of the savings and loans company’s stock valued at $42,000 after purchasing an additional 470 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Provident Financial Services by 19.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,296 shares of the savings and loans company’s stock valued at $288,000 after acquiring an additional 1,986 shares in the last quarter. Citigroup Inc. lifted its position in shares of Provident Financial Services by 6.4% in the first quarter. Citigroup Inc. now owns 67,130 shares of the savings and loans company’s stock valued at $1,571,000 after acquiring an additional 4,031 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of Provident Financial Services by 45.3% in the first quarter. Natixis Advisors L.P. now owns 15,646 shares of the savings and loans company’s stock valued at $366,000 after acquiring an additional 4,877 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Provident Financial Services by 69.9% during the first quarter. Bank of Montreal Can now owns 36,093 shares of the savings and loans company’s stock worth $855,000 after buying an additional 14,853 shares during the period. Institutional investors and hedge funds own 71.97% of the company’s stock.

Provident Financial Services Company Profile

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.