Shares of Provident Financial Services, Inc (NYSE:PFS) have been assigned an average rating of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $27.50.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Provident Financial Services in a research note on Friday, July 7th. ValuEngine cut shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $25.50 price objective on shares of Provident Financial Services in a research note on Friday, July 14th. Finally, BidaskClub cut shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, July 24th.

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Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of Provident Financial Services by 5.1% in the second quarter. Jennison Associates LLC now owns 51,163 shares of the savings and loans company’s stock worth $1,299,000 after acquiring an additional 2,497 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Provident Financial Services by 7.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 301,721 shares of the savings and loans company’s stock worth $7,800,000 after acquiring an additional 21,075 shares in the last quarter. Legal & General Group Plc increased its position in shares of Provident Financial Services by 2.8% in the first quarter. Legal & General Group Plc now owns 110,127 shares of the savings and loans company’s stock worth $2,846,000 after acquiring an additional 2,988 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Provident Financial Services by 7.7% in the first quarter. Vanguard Group Inc. now owns 5,548,692 shares of the savings and loans company’s stock worth $143,433,000 after acquiring an additional 394,788 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Provident Financial Services by 1.7% in the first quarter. Wells Fargo & Company MN now owns 108,931 shares of the savings and loans company’s stock worth $2,816,000 after acquiring an additional 1,802 shares in the last quarter. 61.23% of the stock is currently owned by institutional investors and hedge funds.

Provident Financial Services (NYSE:PFS) traded up 0.40% during mid-day trading on Wednesday, hitting $25.33. 34,959 shares of the stock traded hands. The firm has a market cap of $1.63 billion, a PE ratio of 17.47 and a beta of 1.00. The stock has a 50 day moving average price of $24.90 and a 200 day moving average price of $25.14. Provident Financial Services has a 12-month low of $20.73 and a 12-month high of $28.92.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings data on Friday, July 28th. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The company had revenue of $83.87 million for the quarter, compared to analysts’ expectations of $81.24 million. Provident Financial Services had a net margin of 25.39% and a return on equity of 7.40%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. On average, analysts expect that Provident Financial Services will post $1.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were given a $0.20 dividend. This is an increase from Provident Financial Services’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Friday, August 11th. Provident Financial Services’s dividend payout ratio (DPR) is 54.79%.

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.

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

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