Provident Financial Services (PFS) Rating Reiterated by Piper Jaffray Companies

Provident Financial Services (NYSE:PFS)‘s stock had its “hold” rating reaffirmed by equities research analysts at Piper Jaffray Companies in a note issued to investors on Tuesday. They presently have a $28.00 price objective on the savings and loans company’s stock.

A number of other equities research analysts also recently weighed in on the stock. ValuEngine upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Sandler O’Neill downgraded shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $28.50 price target on shares of Provident Financial Services in a research note on Wednesday, November 1st. Finally, Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $28.30.

Provident Financial Services (NYSE:PFS) traded up $0.42 on Tuesday, hitting $28.00. 205,422 shares of the stock were exchanged, compared to its average volume of 169,228. Provident Financial Services has a one year low of $23.19 and a one year high of $28.76. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.19. The firm has a market cap of $1,800.00, a P/E ratio of 18.54, a P/E/G ratio of 1.58 and a beta of 0.97.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, October 27th. The savings and loans company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $85.32 million for the quarter, compared to the consensus estimate of $83.84 million. During the same period last year, the company posted $0.36 EPS. equities analysts predict that Provident Financial Services will post 1.54 earnings per share for the current fiscal year.

In related news, Director Laura L. Brooks sold 4,075 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $25.99, for a total value of $105,909.25. Following the completion of the transaction, the director now owns 62,905 shares in the company, valued at approximately $1,634,900.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frank L. Fekete sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.33, for a total transaction of $245,970.00. Following the completion of the transaction, the director now owns 48,903 shares of the company’s stock, valued at approximately $1,336,518.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,175 shares of company stock valued at $690,186. 2.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Provident Financial Services by 0.3% in the 2nd quarter. BlackRock Inc. now owns 7,549,296 shares of the savings and loans company’s stock valued at $191,599,000 after buying an additional 24,423 shares during the last quarter. Vanguard Group Inc. raised its holdings in Provident Financial Services by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 5,593,194 shares of the savings and loans company’s stock valued at $141,955,000 after buying an additional 44,502 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Provident Financial Services by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,592,982 shares of the savings and loans company’s stock valued at $141,951,000 after buying an additional 14,562 shares during the last quarter. Northern Trust Corp raised its holdings in Provident Financial Services by 5.7% in the 2nd quarter. Northern Trust Corp now owns 2,444,532 shares of the savings and loans company’s stock valued at $62,043,000 after buying an additional 132,884 shares during the last quarter. Finally, State Street Corp raised its holdings in Provident Financial Services by 4.1% in the 2nd quarter. State Street Corp now owns 1,533,692 shares of the savings and loans company’s stock valued at $38,931,000 after buying an additional 60,670 shares during the last quarter. Institutional investors and hedge funds own 63.67% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Provident Financial Services (PFS) Rating Reiterated by Piper Jaffray Companies” was posted by Markets Daily and is the property of of Markets Daily. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://www.themarketsdaily.com/2018/01/12/provident-financial-services-pfs-rating-reiterated-by-piper-jaffray-companies.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.

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

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

Latest News

Leave a Reply