Provident Financial Services, Inc (NYSE:PFS) Director Edward Odonnell sold 3,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $27.30, for a total value of $81,900.00. Following the transaction, the director now owns 91,335 shares in the company, valued at $2,493,445.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Provident Financial Services (NYSE:PFS) last issued 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 return on equity of 7.61% and a net margin of 25.90%. The business had revenue of $85.32 million for the quarter, compared to the consensus estimate of $83.84 million. During the same quarter in the previous year, the company posted $0.36 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.94%. Provident Financial Services’s dividend payout ratio is 52.98%.
TRADEMARK VIOLATION WARNING: This piece was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of US & international trademark and copyright law. The correct version of this piece can be read at https://www.com-unik.info/2017/11/01/insider-selling-provident-financial-services-inc-pfs-director-sells-3000-shares-of-stock.html.
Several hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new position in shares of Provident Financial Services during the third quarter valued at $298,000. Kistler Tiffany Companies LLC purchased a new position in shares of Provident Financial Services during the third quarter valued at $1,662,000. Assenagon Asset Management S.A. purchased a new position in shares of Provident Financial Services during the third quarter valued at $1,807,000. Piedmont Investment Advisors LLC purchased a new position in shares of Provident Financial Services during the second quarter valued at $333,000. Finally, Sterling Capital Management LLC purchased a new position in shares of Provident Financial Services during the second quarter valued at $593,000. Institutional investors and hedge funds own 61.40% of the company’s stock.
A number of equities analysts have recently commented on PFS shares. Royal Bank Of Canada restated a “buy” rating and issued a $30.00 price objective on shares of Provident Financial Services in a report on Friday, September 8th. DA Davidson started coverage on Provident Financial Services in a report on Friday, September 1st. They issued a “neutral” rating and a $25.00 price objective on the stock. Zacks Investment Research downgraded Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a report on Friday, October 27th. Finally, BidaskClub downgraded Provident Financial Services from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $27.80.
About Provident Financial Services
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.
What are top analysts saying about Provident Financial Services Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Provident Financial Services Inc and related companies.