Insider Selling: Provident Financial Services, Inc (PFS) Director Sells 4,075 Shares of Stock

Provident Financial Services, Inc (NYSE:PFS) Director Laura L. Brooks sold 4,075 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this link.

Provident Financial Services, Inc (NYSE:PFS) opened at $27.45 on Monday. Provident Financial Services, Inc has a twelve month low of $23.19 and a twelve month high of $28.92. The stock has a market capitalization of $1,824.81, a P/E ratio of 18.18, a PEG ratio of 1.78 and a beta of 0.97. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.19.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings results on Friday, October 27th. The savings and loans company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. The firm had revenue of $85.32 million during the quarter, compared to analysts’ expectations of $83.84 million. Provident Financial Services had a return on equity of 7.61% and a net margin of 25.90%. During the same period last year, the firm posted $0.36 EPS. research analysts predict that Provident Financial Services, Inc will post 1.54 earnings per share for the current year.

The company also recently disclosed a special dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a yield of 3.01%. Provident Financial Services’s payout ratio is 52.98%.

Several large investors have recently bought and sold shares of the company. Jennison Associates LLC raised its stake in Provident Financial Services by 5.1% during the 2nd quarter. Jennison Associates LLC now owns 51,163 shares of the savings and loans company’s stock worth $1,299,000 after buying an additional 2,497 shares during the period. New York State Common Retirement Fund raised its stake in shares of Provident Financial Services by 7.5% in the 2nd quarter. New York State Common Retirement Fund now owns 66,300 shares of the savings and loans company’s stock valued at $1,683,000 after purchasing an additional 4,599 shares during the period. Systematic Financial Management LP raised its stake in shares of Provident Financial Services by 3.8% in the 2nd quarter. Systematic Financial Management LP now owns 471,698 shares of the savings and loans company’s stock valued at $11,972,000 after purchasing an additional 17,223 shares during the period. Aberdeen Asset Management PLC UK acquired a new stake in shares of Provident Financial Services in the 2nd quarter valued at about $4,776,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Provident Financial Services by 7.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 301,721 shares of the savings and loans company’s stock valued at $7,800,000 after purchasing an additional 21,075 shares during the period. Institutional investors and hedge funds own 63.97% of the company’s stock.

Several analysts have recently issued reports on the company. Sandler O’Neill downgraded Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday. They noted that the move was a valuation call. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a research note on Friday, October 27th. Zacks Investment Research downgraded Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. ValuEngine cut Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, BidaskClub cut Provident Financial Services from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $27.80.

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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.

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

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