Provident Financial Services, Inc (PFS) Director Sells $105,909.25 in Stock
Provident Financial Services, Inc (NYSE:PFS) Director Laura L. Brooks sold 4,075 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 62,905 shares of the company’s stock, valued at $1,634,900.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Provident Financial Services, Inc (NYSE PFS) traded down $0.03 during trading on Friday, reaching $26.55. The company’s stock had a trading volume of 433,975 shares, compared to its average volume of 230,061. 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, Inc has a 1 year low of $23.19 and a 1 year high of $28.92. The firm has a market capitalization of $1,770.00, a price-to-earnings ratio of 17.36, a P/E/G ratio of 1.70 and a beta of 0.98.
Provident Financial Services (NYSE:PFS) last released its quarterly earnings data on Friday, October 27th. The savings and loans company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $85.32 million during the quarter, compared to analyst estimates of $83.84 million. During the same period in the prior year, the company posted $0.36 earnings per share. sell-side analysts forecast that Provident Financial Services, Inc will post 1.54 EPS for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a yield of 3.01%. Provident Financial Services’s dividend payout ratio is currently 52.98%.
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A number of institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System raised its stake in Provident Financial Services by 1.2% during the third quarter. California Public Employees Retirement System now owns 192,339 shares of the savings and loans company’s stock worth $5,130,000 after acquiring an additional 2,266 shares in the last quarter. Beacon Investment Advisory Services Inc. acquired a new position in Provident Financial Services during the third quarter worth $30,934,000. Engineers Gate Manager LP acquired a new position in Provident Financial Services during the third quarter worth $344,000. Private Advisor Group LLC raised its stake in Provident Financial Services by 32.7% during the third quarter. Private Advisor Group LLC now owns 15,637 shares of the savings and loans company’s stock worth $427,000 after acquiring an additional 3,854 shares in the last quarter. Finally, Moody Aldrich Partners LLC raised its stake in Provident Financial Services by 14.7% during the third quarter. Moody Aldrich Partners LLC now owns 32,501 shares of the savings and loans company’s stock worth $867,000 after acquiring an additional 4,176 shares in the last quarter. Hedge funds and other institutional investors own 61.50% of the company’s stock.
PFS has been the subject of a number of recent research reports. BidaskClub lowered Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. ValuEngine lowered Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, August 2nd. DA Davidson initiated coverage on Provident Financial Services in a research note on Friday, September 1st. They issued a “neutral” rating and a $25.00 target price for the company. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $30.00 target price on shares of Provident Financial Services in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Provident Financial Services presently has a consensus rating of “Hold” and a consensus price target of $27.80.
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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