Provident Financial Services, Inc. (NYSE:PFS) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $28.10.
A number of equities analysts have commented on the stock. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a research report on Monday, January 29th. Sandler O’Neill lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. They noted that the move was a valuation call. Piper Jaffray Companies restated a “hold” rating and issued a $28.00 price target on shares of Provident Financial Services in a research report on Tuesday, January 9th. ValuEngine upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $28.50 price target on shares of Provident Financial Services in a research report on Wednesday, November 1st.
Provident Financial Services (PFS) traded down $0.11 during trading hours on Friday, reaching $25.82. 25,864 shares of the company’s stock were exchanged, compared to its average volume of 186,469. The firm has a market capitalization 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 has a 52-week low of $23.19 and a 52-week high of $28.76. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.08 and a current ratio of 1.12.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.10%. Provident Financial Services’s payout ratio is 54.79%.
In other news, Director Frank L. Fekete sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.33, for a total transaction of $245,970.00. Following the transaction, the director now directly owns 48,903 shares in the company, valued at $1,336,518.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald W. Blum sold 6,100 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold 18,100 shares of company stock worth $502,377 over the last quarter. 2.90% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position 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 worth $217,648,000 after purchasing an additional 294,452 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Provident Financial Services by 0.8% during the second quarter. Vanguard Group Inc. now owns 5,593,194 shares of the savings and loans company’s stock worth $141,955,000 after buying an additional 44,502 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Provident Financial Services by 3.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,869,596 shares of the savings and loans company’s stock worth $50,423,000 after buying an additional 63,232 shares during the last quarter. State Street Corp raised its stake in shares of Provident Financial Services by 4.1% during the second quarter. State Street Corp now owns 1,533,692 shares of the savings and loans company’s stock worth $38,931,000 after buying an additional 60,670 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. bought a new stake in shares of Provident Financial Services during the third quarter worth approximately $30,934,000. Institutional investors own 64.36% of the company’s stock.
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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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