Provident Financial Services (PFS) Lowered to Hold at ValuEngine

ValuEngine downgraded shares of Provident Financial Services (NYSE:PFS) from a buy rating to a hold rating in a report published on Thursday, November 9th.

A number of other equities analysts have also weighed in on PFS. Piper Jaffray Companies restated a hold rating and set a $25.50 target price on shares of Provident Financial Services in a research report on Friday, July 14th. BidaskClub lowered shares of Provident Financial Services from a hold rating to a sell rating in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of Provident Financial Services from a hold rating to a buy rating and set a $30.00 target price for the company in a research report on Wednesday, August 2nd. DA Davidson assumed coverage on shares of Provident Financial Services in a research report on Friday, September 1st. They set a neutral rating and a $25.00 target price for the company. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $30.00 price target on shares of Provident Financial Services in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Provident Financial Services presently has an average rating of Hold and an average target price of $27.80.

Provident Financial Services (NYSE PFS) opened at $27.65 on Thursday. The firm has a market cap of $1,784.92, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 1.74 and a beta of 0.99. Provident Financial Services has a 12-month low of $23.19 and a 12-month high of $28.92. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.08 and a quick ratio of 1.08.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Friday, October 27th. The savings and loans company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $85.32 million during the quarter, compared to analyst estimates of $83.84 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. sell-side analysts anticipate that Provident Financial Services will post 1.54 EPS for the current year.

The firm also recently declared a special dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be paid a dividend of $0.15 per share. This represents a yield of 3.01%. The ex-dividend date of this dividend is Thursday, December 7th. Provident Financial Services’s payout ratio is 52.98%.

In other news, Director Edward Odonnell sold 3,000 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $27.30, for a total value of $81,900.00. Following the sale, the director now owns 91,335 shares of the company’s stock, valued at $2,493,445.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Laura L. Brooks sold 4,075 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $25.99, for a total transaction of $105,909.25. Following the completion of the sale, the director now directly owns 62,905 shares in the company, valued at approximately $1,634,900.95. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Provident Financial Services by 0.3% in the second quarter. BlackRock Inc. now owns 7,549,296 shares of the savings and loans company’s stock valued at $191,599,000 after acquiring an additional 24,423 shares during the period. Vanguard Group Inc. raised its stake in shares of Provident Financial Services by 0.8% in the second quarter. Vanguard Group Inc. now owns 5,593,194 shares of the savings and loans company’s stock valued at $141,955,000 after acquiring an additional 44,502 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Provident Financial Services by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,592,982 shares of the savings and loans company’s stock worth $141,951,000 after purchasing an additional 14,562 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Provident Financial Services by 5.7% in the second quarter. Northern Trust Corp now owns 2,444,532 shares of the savings and loans company’s stock worth $62,043,000 after purchasing an additional 132,884 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Provident Financial Services by 4.1% in the second quarter. State Street Corp now owns 1,533,692 shares of the savings and loans company’s stock worth $38,931,000 after purchasing an additional 60,670 shares during the last quarter. 63.99% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This news story was originally published by BBNS and is the property of of BBNS. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://baseballnewssource.com/markets/valuengine-downgrades-provident-financial-services-inc-pfs-to-hold/1771506.html.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

Receive News & Ratings for Provident Financial Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services Inc and related companies with our FREE daily email newsletter.

 


Latest News

Phillies Sign Free Agent Carlos Santana
Phillies Sign Free Agent Carlos Santana
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Tigers Trade Ian Kinsler to Angels for Pair of Minor Leaguers
Manny Machado Could Change Positions or Uniforms
Manny Machado Could Change Positions or Uniforms
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle


Leave a Reply

 
© 2006-2017 BBNS.