Provident Financial Services, Inc. (PFS) Receives Consensus Recommendation of “Hold” from Analysts

Provident Financial Services, Inc. (NYSE:PFS) has earned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $27.88.

PFS has been the subject of a number of research reports. Zacks Investment Research upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Wednesday, November 1st. Keefe, Bruyette & Woods restated a “hold” rating and set a $28.50 target price on shares of Provident Financial Services in a research report on Wednesday, November 1st. ValuEngine lowered Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a research report on Friday, October 27th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $28.00 target price on shares of Provident Financial Services in a research report on Tuesday, January 9th.

Shares of Provident Financial Services (NYSE PFS) traded down $0.05 during mid-day trading on Tuesday, reaching $27.95. The company had a trading volume of 140,400 shares, compared to its average volume of 171,229. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $1,861.37, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. Provident Financial Services has a 1 year low of $23.19 and a 1 year high of $28.76.

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

In other news, EVP Donald W. Blum sold 6,100 shares of Provident Financial Services stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $28.47, for a total transaction of $173,667.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carlos Hernandez sold 3,000 shares of Provident Financial Services stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $27.58, for a total value of $82,740.00. Following the transaction, the director now owns 81,958 shares in the company, valued at approximately $2,260,401.64. The disclosure for this sale can be found here. Insiders have sold a total of 25,175 shares of company stock valued at $690,186 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its holdings in shares of Provident Financial Services by 7.5% during the 2nd quarter. New York State Common Retirement Fund now owns 66,300 shares of the savings and loans company’s stock valued at $1,683,000 after purchasing an additional 4,599 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Provident Financial Services in the 3rd quarter valued at approximately $344,000. Moody Aldrich Partners LLC lifted its stake in Provident Financial Services by 14.7% in 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 acquiring an additional 4,176 shares in the last quarter. Kistler Tiffany Companies LLC bought a new stake in Provident Financial Services in the 3rd quarter valued at approximately $1,662,000. Finally, Legal & General Group Plc lifted its stake in Provident Financial Services by 5.0% in the 3rd quarter. Legal & General Group Plc now owns 126,068 shares of the savings and loans company’s stock valued at $3,365,000 after acquiring an additional 6,036 shares in the last quarter. Institutional investors and hedge funds own 63.80% of the company’s stock.

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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.

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

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