George Lista Buys 1,000 Shares of Provident Financial Services, Inc. (NYSE:PFS) Stock

Provident Financial Services, Inc. (NYSE:PFS) CEO George Lista purchased 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $16.73 per share, with a total value of $16,730.00. Following the purchase, the chief executive officer now owns 9,956 shares of the company’s stock, valued at approximately $166,563.88. This trade represents a 11.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Provident Financial Services Stock Up 2.9 %

NYSE PFS traded up $0.48 on Friday, hitting $17.14. 565,421 shares of the company were exchanged, compared to its average volume of 795,337. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average of $18.44 and a 200-day moving average of $19.09. The company has a market cap of $2.24 billion, a PE ratio of 16.32 and a beta of 1.06. Provident Financial Services, Inc. has a 12 month low of $13.07 and a 12 month high of $22.24.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.13). Provident Financial Services had a net margin of 10.13% and a return on equity of 5.60%. As a group, analysts forecast that Provident Financial Services, Inc. will post 2.14 earnings per share for the current year.

Provident Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Friday, February 14th. Provident Financial Services’s dividend payout ratio (DPR) is 91.43%.

Analyst Ratings Changes

PFS has been the subject of several analyst reports. StockNews.com upgraded shares of Provident Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Royal Bank of Canada lowered their target price on shares of Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Hovde Group began coverage on shares of Provident Financial Services in a research report on Friday, December 13th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, DA Davidson lifted their price objective on Provident Financial Services from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.00.

Hedge Funds Weigh In On Provident Financial Services

Large investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. raised its position in Provident Financial Services by 120.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock valued at $28,000 after buying an additional 820 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of Provident Financial Services during the 4th quarter worth approximately $46,000. Federated Hermes Inc. bought a new position in shares of Provident Financial Services during the 4th quarter worth approximately $55,000. Sterling Capital Management LLC boosted its stake in shares of Provident Financial Services by 805.9% in the 4th quarter. Sterling Capital Management LLC now owns 3,968 shares of the savings and loans company’s stock worth $75,000 after buying an additional 3,530 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Provident Financial Services in the fourth quarter valued at approximately $99,000. Institutional investors own 71.97% of the company’s stock.

Provident Financial Services Company Profile

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.