Provident Financial Services (NYSE:PFS) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

A number of other equities analysts have also issued reports on PFS. BidaskClub lowered shares of Provident Financial Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. DA Davidson initiated coverage on shares of Provident Financial Services in a research report on Friday, September 1st. They set a “neutral” rating and a $25.00 price target for the company. Royal Bank Of Canada reissued a “buy” rating and set a $30.00 price target on shares of Provident Financial Services in a research report on Friday, September 8th. Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Provident Financial Services in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $27.80.

Provident Financial Services (PFS) traded up $0.11 on Friday, reaching $27.45. 303,154 shares of the company’s stock were exchanged, compared to its average volume of 291,729. Provident Financial Services has a 12 month low of $23.19 and a 12 month high of $28.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.19. The stock has a market cap of $1,817.49, a price-to-earnings ratio of 18.11, a PEG ratio of 1.77 and a beta of 0.97.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, October 27th. The savings and loans company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Provident Financial Services had a net margin of 25.90% and a return on equity of 7.61%. The company had revenue of $85.32 million during the quarter, compared to analyst estimates of $83.84 million. During the same period last year, the firm posted $0.36 EPS. equities research analysts anticipate that Provident Financial Services will post 1.54 EPS for the current fiscal year.

In other news, EVP Donald W. Blum sold 6,100 shares of Provident Financial Services stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $28.47, for a total transaction of $173,667.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward Odonnell sold 3,000 shares of Provident Financial Services stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $27.30, for a total transaction of $81,900.00. Following the transaction, the director now directly owns 91,335 shares of the company’s stock, valued at $2,493,445.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,175 shares of company stock valued at $444,216. Insiders own 2.90% of the company’s stock.

Several large investors have recently bought and sold shares of the company. California Public Employees Retirement System increased its holdings in shares of Provident Financial Services by 1.2% during the 3rd quarter. California Public Employees Retirement System now owns 192,339 shares of the savings and loans company’s stock valued at $5,130,000 after purchasing an additional 2,266 shares in the last quarter. Beacon Investment Advisory Services Inc. purchased a new position in shares of Provident Financial Services during the 3rd quarter valued at approximately $30,934,000. Engineers Gate Manager LP purchased a new position in shares of Provident Financial Services during the 3rd quarter valued at approximately $344,000. Private Advisor Group LLC increased its holdings in shares of Provident Financial Services by 32.7% during the 3rd quarter. Private Advisor Group LLC now owns 15,637 shares of the savings and loans company’s stock valued at $427,000 after purchasing an additional 3,854 shares in the last quarter. Finally, Moody Aldrich Partners LLC increased its holdings in shares of Provident Financial Services by 14.7% during the 3rd quarter. Moody Aldrich Partners LLC now owns 32,501 shares of the savings and loans company’s stock valued at $867,000 after purchasing an additional 4,176 shares in the last quarter. 63.99% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

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