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BidaskClub upgraded shares of Provident Financial Services (NYSE:PFS) from a hold rating to a buy rating in a research note issued to investors on Thursday, BidAskClub reports.
PFS has been the topic of several other research reports. ValuEngine raised Provident Financial Services from a sell rating to a hold rating in a report on Tuesday, December 1st. Zacks Investment Research cut shares of Provident Financial Services from a hold rating to a sell rating in a research report on Tuesday, January 5th. Janney Montgomery Scott began coverage on shares of Provident Financial Services in a research report on Thursday, October 8th. They set a neutral rating on the stock. Royal Bank of Canada reiterated a hold rating on shares of Provident Financial Services in a research report on Sunday, October 4th. Finally, TheStreet upgraded shares of Provident Financial Services from a c rating to a b- rating in a research report on Tuesday, November 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $15.00.
NYSE PFS opened at $19.32 on Thursday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 14.42 and a beta of 0.98. Provident Financial Services has a 1 year low of $9.05 and a 1 year high of $24.62. The business’s fifty day moving average is $17.21 and its two-hundred day moving average is $14.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.07.
Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, October 30th. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.12. The company had revenue of $102.61 million for the quarter, compared to analysts’ expectations of $97.43 million. Provident Financial Services had a return on equity of 6.15% and a net margin of 20.60%. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, research analysts forecast that Provident Financial Services will post 1.01 earnings per share for the current year.
In other news, EVP James A. Christy sold 3,190 shares of the business’s stock in a transaction on Monday, December 7th. The shares were sold at an average price of $17.28, for a total transaction of $55,123.20. Following the transaction, the executive vice president now directly owns 28,525 shares in the company, valued at approximately $492,912. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Earnest Partners LLC purchased a new position in shares of Provident Financial Services during the 3rd quarter valued at $27,000. Point72 Hong Kong Ltd bought a new stake in Provident Financial Services in the second quarter worth $40,000. Steward Partners Investment Advisory LLC bought a new stake in Provident Financial Services in the third quarter worth $79,000. Bank of Montreal Can boosted its holdings in Provident Financial Services by 90.1% in the second quarter. Bank of Montreal Can now owns 6,204 shares of the savings and loans company’s stock worth $80,000 after purchasing an additional 2,940 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in Provident Financial Services in the second quarter worth $128,000. Institutional investors and hedge funds own 66.59% of the company’s stock.
About Provident Financial Services
Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking services to individuals, families, and businesses in the United States. The company's 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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