Insider Selling: Provident Financial Services, Inc. (PFS) Director Sells 3,600 Shares of Stock

Provident Financial Services, Inc. (NYSE:PFS) Director Carlos Hernandez sold 3,600 shares of the stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $27.93, for a total transaction of $100,548.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of Provident Financial Services stock traded up $0.08 on Thursday, reaching $28.18. 133,800 shares of the company traded hands, compared to its average volume of 152,575. Provident Financial Services, Inc. has a 52 week low of $23.26 and a 52 week high of $29.12. The company has a market capitalization of $1.91 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.94 and a beta of 0.95. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24.

Provident Financial Services (NYSE:PFS) last released its earnings results on Friday, April 27th. The savings and loans company reported $0.43 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.43. The firm had revenue of $86.58 million during the quarter, compared to the consensus estimate of $86.38 million. Provident Financial Services had a net margin of 25.30% and a return on equity of 7.89%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS. equities analysts expect that Provident Financial Services, Inc. will post 1.83 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Tuesday, May 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Monday, May 14th. Provident Financial Services’s payout ratio is currently 52.63%.

A number of research firms have recently weighed in on PFS. ValuEngine raised shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research downgraded shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, March 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $28.42.

Several hedge funds have recently made changes to their positions in the stock. Cortina Asset Management LLC lifted its stake in shares of Provident Financial Services by 1.5% during the 1st quarter. Cortina Asset Management LLC now owns 153,489 shares of the savings and loans company’s stock valued at $3,928,000 after buying an additional 2,219 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Provident Financial Services by 16.7% during the 1st quarter. GSA Capital Partners LLP now owns 17,363 shares of the savings and loans company’s stock valued at $444,000 after buying an additional 2,491 shares in the last quarter. Swiss National Bank lifted its stake in shares of Provident Financial Services by 2.3% during the 1st quarter. Swiss National Bank now owns 110,000 shares of the savings and loans company’s stock valued at $2,815,000 after buying an additional 2,500 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in shares of Provident Financial Services by 25.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 13,774 shares of the savings and loans company’s stock valued at $352,000 after buying an additional 2,800 shares in the last quarter. Finally, Aperio Group LLC lifted its stake in shares of Provident Financial Services by 19.1% during the 4th quarter. Aperio Group LLC now owns 18,614 shares of the savings and loans company’s stock valued at $502,000 after buying an additional 2,981 shares in the last quarter. Institutional investors own 64.43% of the company’s stock.

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.

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

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