Brian Giovinazzi Sells 7,964 Shares of Provident Financial Services, Inc. (NYSE:PFS) Stock

Provident Financial Services, Inc. (NYSE:PFS) EVP Brian Giovinazzi sold 7,964 shares of Provident Financial Services stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $24.10, for a total transaction of $191,932.40. Following the completion of the sale, the executive vice president now directly owns 102,528 shares of the company’s stock, valued at approximately $2,470,924.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Provident Financial Services stock opened at $23.79 on Friday. The firm has a market cap of $1.59 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. Provident Financial Services, Inc. has a 1-year low of $22.22 and a 1-year high of $28.89. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings results on Friday, April 26th. The savings and loans company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $87.20 million for the quarter, compared to analysts’ expectations of $90.53 million. Provident Financial Services had a net margin of 28.66% and a return on equity of 9.03%. During the same quarter last year, the company posted $0.43 EPS. As a group, equities analysts expect that Provident Financial Services, Inc. will post 1.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend was Tuesday, May 14th. Provident Financial Services’s dividend payout ratio is presently 50.55%.

PFS has been the subject of a number of research analyst reports. Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a research report on Friday, April 26th. ValuEngine downgraded shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research downgraded shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Provident Financial Services presently has a consensus rating of “Hold” and a consensus price target of $27.50.

Several institutional investors have recently modified their holdings of the company. SEI Investments Co boosted its stake in shares of Provident Financial Services by 46.8% during the 1st quarter. SEI Investments Co now owns 23,532 shares of the savings and loans company’s stock worth $610,000 after acquiring an additional 7,503 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Provident Financial Services by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,947,353 shares of the savings and loans company’s stock worth $50,417,000 after acquiring an additional 69,300 shares during the last quarter. Oxford Asset Management LLP purchased a new position in shares of Provident Financial Services during the 1st quarter worth $1,349,000. Geode Capital Management LLC boosted its stake in shares of Provident Financial Services by 6.6% during the 1st quarter. Geode Capital Management LLC now owns 723,057 shares of the savings and loans company’s stock worth $18,719,000 after acquiring an additional 44,745 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Provident Financial Services by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 463,134 shares of the savings and loans company’s stock worth $11,991,000 after acquiring an additional 19,314 shares during the last quarter. Institutional investors and hedge funds own 64.81% of the company’s stock.

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Provident Financial Services Company Profile

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, and KEOGH products.

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Insider Buying and Selling by Quarter for Provident Financial Services (NYSE:PFS)

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