Provident Financial Services’ (PFS) Buy Rating Reaffirmed at Royal Bank Of Canada
Provident Financial Services, Inc (NYSE:PFS)‘s stock had its “buy” rating reiterated by stock analysts at Royal Bank Of Canada in a report issued on Friday. They currently have a $30.00 price objective on the savings and loans company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 26.64% from the company’s previous close.
Several other equities analysts have also commented on PFS. BidaskClub lowered Provident Financial Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $25.50 price target on shares of Provident Financial Services in a research note on Friday, July 14th. DA Davidson assumed coverage on Provident Financial Services in a research note on Friday, September 1st. They issued a “neutral” rating and a $25.00 price target on the stock. Zacks Investment Research raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday, August 2nd. Finally, ValuEngine lowered Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $26.58.
Shares of Provident Financial Services (NYSE PFS) opened at 23.69 on Friday. The firm has a 50-day moving average price of $25.10 and a 200-day moving average price of $25.26. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 16.34 and a beta of 1.00. Provident Financial Services has a 1-year low of $20.53 and a 1-year high of $28.92.
Provident Financial Services (NYSE:PFS) last announced its quarterly earnings results on Friday, July 28th. The savings and loans company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Provident Financial Services had a return on equity of 7.40% and a net margin of 25.39%. The business had revenue of $83.87 million for the quarter, compared to analyst estimates of $81.24 million. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts forecast that Provident Financial Services will post $1.49 EPS for the current year.
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Hedge funds have recently bought and sold shares of the stock. First Manhattan Co. raised its holdings in shares of Provident Financial Services by 29.3% in the 1st 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 period. SG Americas Securities LLC purchased a new stake in shares of Provident Financial Services in the 2nd quarter valued at $118,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Provident Financial Services in the 1st quarter valued at $136,000. Amalgamated Bank raised its holdings in shares of Provident Financial Services by 1.5% in the 2nd quarter. Amalgamated Bank now owns 8,387 shares of the savings and loans company’s stock valued at $213,000 after buying an additional 126 shares during the period. Finally, Susquehanna International Group LLP purchased a new stake in shares of Provident Financial Services in the 2nd quarter valued at $251,000. Hedge funds and other institutional investors own 61.61% of the company’s stock.
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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