Provident Financial Services, Inc. (PFS) Given Average Rating of “Hold” by Brokerages

Provident Financial Services, Inc. (NYSE:PFS) has received an average recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $28.10.

A number of research analysts recently weighed in on PFS shares. Zacks Investment Research raised shares of Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Wednesday, November 1st. Sandler O’Neill raised shares of Provident Financial Services from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Friday, January 26th. ValuEngine downgraded shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Boenning Scattergood reissued a “hold” rating on shares of Provident Financial Services in a research report on Friday, October 27th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $28.50 price objective on shares of Provident Financial Services in a research report on Wednesday, November 1st.

Provident Financial Services (PFS) opened at $25.93 on Friday. The firm has a market cap of $1,713.28, a price-to-earnings ratio of 17.76, a P/E/G ratio of 1.75 and a beta of 0.94. Provident Financial Services has a 12-month low of $23.19 and a 12-month high of $28.76. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.12 and a quick ratio of 1.08.

Provident Financial Services (NYSE:PFS) last released its earnings results on Friday, January 26th. The savings and loans company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $85.20 million during the quarter, compared to the consensus estimate of $85.36 million. Provident Financial Services had a net margin of 24.75% and a return on equity of 7.61%. During the same period last year, the business posted $0.35 EPS. equities analysts forecast that Provident Financial Services will post 1.84 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Wednesday, February 14th. Provident Financial Services’s dividend payout ratio (DPR) is presently 54.79%.

In other news, Director Frank L. Fekete sold 9,000 shares of Provident Financial Services stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $27.33, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carlos Hernandez sold 3,000 shares of Provident Financial Services stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $27.58, for a total transaction of $82,740.00. Following the completion of the transaction, the director now directly owns 81,958 shares of the company’s stock, valued at approximately $2,260,401.64. The disclosure for this sale can be found here. In the last three months, insiders sold 18,100 shares of company stock valued at $502,377. Insiders own 2.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in PFS. Sterling Capital Management LLC boosted its holdings in shares of Provident Financial Services by 89.9% during the 4th quarter. Sterling Capital Management LLC now owns 43,713 shares of the savings and loans company’s stock worth $1,179,000 after buying an additional 20,689 shares during the period. M3F Inc. bought a new stake in shares of Provident Financial Services during the 4th quarter worth about $4,133,000. MetLife Investment Advisors LLC bought a new stake in shares of Provident Financial Services during the 4th quarter worth about $785,000. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Provident Financial Services by 22.0% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 27,770 shares of the savings and loans company’s stock worth $749,000 after buying an additional 5,000 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Provident Financial Services by 69.5% during the 4th quarter. Millennium Management LLC now owns 343,518 shares of the savings and loans company’s stock worth $9,265,000 after buying an additional 140,816 shares during the period. 63.68% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

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