Insider Buying: Provident Financial Services Director Acquires 1,000 Shares of Stock (PFS)
Provident Financial Services (NYSE:PFS) Director Thomas W. Berry acquired 1,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average cost of $16.64 per share, with a total value of $16,640.00. Following the completion of the acquisition, the director now directly owns 75,387 shares in the company, valued at approximately $1,254,440. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on PFS. Analysts at Sterne Agee upgraded shares of Provident Financial Services from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 29th. They now have a $19.00 price target on the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of Provident Financial Services in a research note on Tuesday, June 3rd. They now have a $20.00 price target on the stock, down previously from $21.00. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $19.35.
Shares of Provident Financial Services (NYSE:PFS) traded down 0.30% during mid-day trading on Thursday, hitting $16.88. The stock had a trading volume of 36,114 shares. Provident Financial Services has a 1-year low of $15.78 and a 1-year high of $19.93. The stock has a 50-day moving average of $17.05 and a 200-day moving average of $17.49. The company has a market cap of $998.4 million and a P/E ratio of 14.72.
Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Friday, July 25th. The company reported $0.31 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.31. During the same quarter in the prior year, the company posted $0.34 earnings per share. Analysts expect that Provident Financial Services will post $1.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Wednesday, August 13th.
Provident Financial Services, Inc is a holding company of The Provident Bank (NYSE:PFS).
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