Provident Financial Services, Inc. (NYSE:PFS) CEO Sells $66,690.00 in Stock

Provident Financial Services, Inc. (NYSE:PFSGet Rating) CEO George Lista sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $22.23, for a total value of $66,690.00. Following the transaction, the chief executive officer now owns 106,873 shares of the company’s stock, valued at $2,375,786.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of PFS stock opened at $21.75 on Friday. The stock has a 50 day moving average of $22.81 and a 200-day moving average of $23.83. The company has a quick ratio of 0.91, a current ratio of 0.89 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.67 billion, a PE ratio of 10.16 and a beta of 0.91. Provident Financial Services, Inc. has a 12 month low of $20.86 and a 12 month high of $26.20.

Provident Financial Services (NYSE:PFSGet Rating) last issued its earnings results on Friday, April 29th. The savings and loans company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.12. Provident Financial Services had a return on equity of 9.79% and a net margin of 33.46%. During the same period last year, the business earned $0.63 earnings per share. As a group, equities analysts predict that Provident Financial Services, Inc. will post 2.2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.41%. Provident Financial Services’s payout ratio is 44.86%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Yousif Capital Management LLC acquired a new position in shares of Provident Financial Services in the fourth quarter valued at $1,723,000. Jennison Associates LLC raised its stake in shares of Provident Financial Services by 44.8% in the third quarter. Jennison Associates LLC now owns 56,432 shares of the savings and loans company’s stock valued at $1,324,000 after purchasing an additional 17,464 shares in the last quarter. Hsbc Holdings PLC raised its stake in Provident Financial Services by 921.0% during the third quarter. Hsbc Holdings PLC now owns 189,484 shares of the savings and loans company’s stock worth $4,476,000 after acquiring an additional 170,926 shares in the last quarter. American Century Companies Inc. raised its stake in Provident Financial Services by 4.9% during the third quarter. American Century Companies Inc. now owns 1,454,783 shares of the savings and loans company’s stock worth $34,144,000 after acquiring an additional 67,383 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its stake in Provident Financial Services by 3.4% during the third quarter. First Republic Investment Management Inc. now owns 38,566 shares of the savings and loans company’s stock worth $905,000 after acquiring an additional 1,256 shares in the last quarter. Institutional investors and hedge funds own 63.82% of the company’s stock.

A number of brokerages have recently commented on PFS. StockNews.com began coverage on Provident Financial Services in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Provident Financial Services from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a report on Wednesday, February 2nd.

Provident Financial Services Company Profile (Get Rating)

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

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