Provident Financial Services, Inc. (NYSE:PFS - Get Free Report) EVP James A. Christy sold 3,500 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $20.88, for a total transaction of $73,080.00. Following the sale, the executive vice president now owns 34,254 shares of the company's stock, valued at approximately $715,223.52. This represents a 9.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Provident Financial Services Stock Performance
Shares of NYSE PFS opened at $20.31 on Friday. The firm's 50-day moving average price is $20.05 and its 200-day moving average price is $17.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.02. The company has a market cap of $2.65 billion, a PE ratio of 19.53 and a beta of 1.06. Provident Financial Services, Inc. has a 52-week low of $13.07 and a 52-week high of $22.24.
Provident Financial Services (NYSE:PFS - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.11). The business had revenue of $349.38 million during the quarter, compared to analysts' expectations of $211.25 million. Provident Financial Services had a return on equity of 5.21% and a net margin of 9.55%. During the same period in the previous year, the business posted $0.38 EPS. As a group, analysts anticipate that Provident Financial Services, Inc. will post 1.84 EPS for the current year.
Provident Financial Services Dividend Announcement
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date was Friday, November 15th. Provident Financial Services's payout ratio is 92.31%.
Hedge Funds Weigh In On Provident Financial Services
Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in shares of Provident Financial Services by 991.2% in the second quarter. Signaturefd LLC now owns 1,855 shares of the savings and loans company's stock worth $27,000 after buying an additional 1,685 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Provident Financial Services by 120.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company's stock worth $28,000 after buying an additional 820 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Provident Financial Services by 43.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,050 shares of the savings and loans company's stock worth $58,000 after buying an additional 1,218 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Provident Financial Services by 1,779.7% during the third quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company's stock valued at $146,000 after purchasing an additional 7,457 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position in Provident Financial Services during the second quarter valued at approximately $163,000. Hedge funds and other institutional investors own 71.97% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on PFS. Hovde Group began coverage on shares of Provident Financial Services in a research note on Friday. They set an "outperform" rating and a $25.00 price objective for the company. StockNews.com upgraded shares of Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Thursday, November 28th. DA Davidson raised their price target on shares of Provident Financial Services from $24.00 to $27.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods raised shares of Provident Financial Services from a "market perform" rating to an "outperform" rating and raised their price target for the company from $20.00 to $21.00 in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Provident Financial Services presently has an average rating of "Moderate Buy" and an average price target of $23.50.
Read Our Latest Stock Report on PFS
Provident Financial Services Company Profile
(
Get Free Report)
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.
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