Provident Financial Services, Inc (NYSE:PFS) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Provident Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. BidaskClub cut Provident Financial Services from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Sandler O’Neill raised Provident Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $30.00 price target on shares of Provident Financial Services in a report on Friday, July 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $27.00 price target on shares of Provident Financial Services in a report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $25.90.

Provident Financial Services (NYSE PFS) traded up 1.83% during mid-day trading on Tuesday, hitting $26.11. The stock had a trading volume of 139,045 shares. Provident Financial Services has a 12-month low of $19.88 and a 12-month high of $28.92. The company has a 50-day moving average of $25.09 and a 200-day moving average of $25.62. The firm has a market cap of $1.68 billion, a PE ratio of 18.45 and a beta of 0.98.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings results on Friday, April 28th. The savings and loans company reported $0.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. The company had revenue of $79.50 million for the quarter, compared to analysts’ expectations of $80.78 million. Provident Financial Services had a return on equity of 7.24% and a net margin of 25.02%. During the same quarter in the previous year, the company posted $0.33 earnings per share. Analysts expect that Provident Financial Services will post $1.47 earnings per share for the current year.

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In related news, Director Carlos Hernandez sold 2,650 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $24.56, for a total transaction of $65,084.00. Following the sale, the director now owns 81,408 shares of the company’s stock, valued at $1,999,380.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in PFS. First Manhattan Co. boosted its stake in shares of Provident Financial Services by 29.3% in the first quarter. First Manhattan Co. now owns 4,850 shares of the savings and loans company’s stock valued at $102,000 after buying an additional 1,100 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Provident Financial Services during the first quarter valued at approximately $136,000. State of Alaska Department of Revenue boosted its stake in shares of Provident Financial Services by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 6,670 shares of the savings and loans company’s stock valued at $172,000 after buying an additional 190 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of Provident Financial Services during the first quarter valued at approximately $293,000. Finally, Mason Street Advisors LLC boosted its stake in shares of Provident Financial Services by 7.7% in the first quarter. Mason Street Advisors LLC now owns 14,140 shares of the savings and loans company’s stock valued at $366,000 after buying an additional 1,007 shares during the last quarter. 62.57% of the stock is currently owned by hedge funds and other institutional investors.

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.

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