Piper Jaffray Companies reissued their hold rating on shares of Provident Financial Services, Inc (NYSE:PFS) in a report released on Friday. The brokerage currently has a $25.50 price target on the savings and loans company’s stock.
PFS has been the topic of several other research reports. Zacks Investment Research upgraded shares of Provident Financial Services from a sell rating to a hold rating in a report on Friday, March 31st. Keefe, Bruyette & Woods reiterated a hold rating and issued a $26.00 target price on shares of Provident Financial Services in a report on Monday, April 10th. Royal Bank Of Canada reiterated a buy rating and issued a $30.00 target price on shares of Provident Financial Services in a report on Friday, July 7th. BidaskClub downgraded shares of Provident Financial Services from a sell rating to a strong sell rating in a report on Thursday, June 22nd. Finally, ValuEngine upgraded shares of Provident Financial Services from a hold rating to a buy rating in a report on Thursday, June 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $25.90.
Provident Financial Services (PFS) traded down 0.46% during trading on Friday, reaching $25.70. 133,932 shares of the company’s stock were exchanged. Provident Financial Services has a 1-year low of $19.86 and a 1-year high of $28.92. The company’s 50-day moving average is $24.32 and its 200-day moving average is $25.94. The company has a market capitalization of $1.65 billion, a PE ratio of 18.16 and a beta of 0.98.
Provident Financial Services (NYSE:PFS) last announced its earnings results on Friday, April 28th. The savings and loans company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $79.50 million for the quarter, compared to the consensus estimate of $80.78 million. Provident Financial Services had a net margin of 25.02% and a return on equity of 7.24%. During the same quarter last year, the firm posted $0.33 EPS. Equities research analysts expect that Provident Financial Services will post $1.47 earnings per share for the current fiscal year.
In other Provident Financial Services news, Director Carlos Hernandez sold 2,650 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $24.56, for a total value of $65,084.00. Following the sale, the director now directly owns 81,408 shares in the company, valued at approximately $1,999,380.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Provident Financial Services by 43,449.2% in the first quarter. BlackRock Inc. now owns 7,524,873 shares of the savings and loans company’s stock valued at $194,518,000 after buying an additional 7,507,594 shares in the last quarter. Norges Bank acquired a new stake in shares of Provident Financial Services during the fourth quarter valued at $21,180,000. Vanguard Group Inc. raised its stake in shares of Provident Financial Services by 7.7% in the first quarter. Vanguard Group Inc. now owns 5,548,692 shares of the savings and loans company’s stock valued at $143,433,000 after buying an additional 394,788 shares during the period. State Street Corp raised its stake in shares of Provident Financial Services by 10.8% in the fourth quarter. State Street Corp now owns 1,439,420 shares of the savings and loans company’s stock valued at $40,736,000 after buying an additional 140,183 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Provident Financial Services by 6.8% in the first quarter. Renaissance Technologies LLC now owns 1,064,100 shares of the savings and loans company’s stock valued at $27,507,000 after buying an additional 68,100 shares during the period. Institutional investors own 62.70% of the company’s stock.
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.
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