Provident Financial Services, Inc. (PFS) Given Consensus Recommendation of “Hold” by Analysts

Shares of Provident Financial Services, Inc. (NYSE:PFS) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $28.10.

A number of analysts recently commented on the company. Piper Jaffray reiterated a “hold” rating and set a $28.00 price objective on shares of Provident Financial Services in a research report on Tuesday, January 9th. ValuEngine upgraded Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Boenning Scattergood reiterated a “hold” rating on shares of Provident Financial Services in a research report on Monday, January 29th. Zacks Investment Research cut Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Sandler O’Neill upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Friday, January 26th.

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In related news, Director Edward Odonnell sold 11,786 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $25.84, for a total transaction of $304,550.24. Following the completion of the sale, the director now owns 71,549 shares in the company, valued at $1,848,826.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its holdings in Provident Financial Services by 66.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,990 shares of the savings and loans company’s stock valued at $135,000 after purchasing an additional 2,000 shares during the period. Sei Investments Co. grew its holdings in Provident Financial Services by 170.1% during the third quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock valued at $160,000 after purchasing an additional 3,796 shares during the period. Calton & Associates Inc. bought a new stake in Provident Financial Services during the fourth quarter valued at about $190,000. Telemus Capital LLC bought a new stake in Provident Financial Services during the fourth quarter valued at about $206,000. Finally, CIBC Asset Management Inc bought a new stake in Provident Financial Services during the fourth quarter valued at about $217,000. 66.32% of the stock is owned by institutional investors and hedge funds.

PFS stock opened at $25.44 on Friday. Provident Financial Services has a 1-year low of $23.19 and a 1-year 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 1.11. The firm has a market capitalization of $1,700.49, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.73 and a beta of 0.93.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings data on Friday, January 26th. The savings and loans company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $85.20 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.35 EPS. research analysts anticipate that Provident Financial Services will post 1.84 EPS for the current fiscal year.

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About Provident Financial Services

Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA and KEOGH accounts.

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

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