Provident Financial Services, Inc (PFS) Downgraded by ValuEngine to “Hold”
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.
TRADEMARK VIOLATION NOTICE: This article was first posted by American Banking News and is the property of of American Banking News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/07/25/provident-financial-services-inc-pfs-downgraded-by-valuengine-to-hold.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Provident Financial Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.