Provident Financial Services (NYSE:PFS) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Wednesday, March 7th.
A number of other research firms have also recently issued reports on PFS. Sandler O’Neill cut shares of Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. They noted that the move was a valuation call. Piper Jaffray Companies reissued a “hold” rating and issued a $28.00 price target on shares of Provident Financial Services in a research report on Tuesday, January 9th. Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a report on Monday, January 29th. Finally, Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Provident Financial Services currently has an average rating of “Hold” and a consensus target price of $28.42.
Provident Financial Services (NYSE:PFS) opened at $26.34 on Wednesday. The stock has a market capitalization of $1,760.00, a P/E ratio of 17.33, a PEG ratio of 1.80 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 1.36. Provident Financial Services has a 52-week low of $23.19 and a 52-week high of $28.76.
In other Provident Financial Services news, Director Edward Odonnell sold 11,786 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $25.84, for a total value of $304,550.24. Following the completion of the sale, the director now owns 71,549 shares of the company’s stock, valued at approximately $1,848,826.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new position in Provident Financial Services in the 3rd quarter valued at approximately $298,000. Prudential Financial Inc. boosted its stake in Provident Financial Services by 10.8% during the third quarter. Prudential Financial Inc. now owns 483,825 shares of the savings and loans company’s stock worth $12,904,000 after acquiring an additional 47,080 shares in the last quarter. Alps Advisors Inc. bought a new position in shares of Provident Financial Services in the third quarter valued at $507,000. BNP Paribas Arbitrage SA lifted its stake in shares of Provident Financial Services by 53.9% in the third quarter. BNP Paribas Arbitrage SA now owns 33,988 shares of the savings and loans company’s stock valued at $906,000 after buying an additional 11,899 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Provident Financial Services by 170.1% in the third quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock valued at $160,000 after buying an additional 3,796 shares in the last quarter. 66.32% 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.
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