Provident Financial Services, Inc. (NYSE:PFS – Get Free Report) shares saw an uptick in trading volume on Thursday . 1,405,123 shares changed hands during mid-day trading, an increase of 82% from the previous session’s volume of 770,997 shares.The stock last traded at $16.25 and had previously closed at $16.13.
Analyst Ratings Changes
A number of equities analysts have recently commented on the company. TheStreet downgraded Provident Financial Services from a “b-” rating to a “c+” rating in a research report on Wednesday, March 13th. Royal Bank of Canada lifted their price objective on shares of Provident Financial Services from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. StockNews.com raised Provident Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods decreased their price target on Provident Financial Services from $20.00 to $17.00 and set a “market perform” rating for the company in a report on Tuesday, March 26th. Finally, DA Davidson raised Provident Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $15.00 to $20.00 in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Provident Financial Services presently has an average rating of “Moderate Buy” and an average target price of $19.00.
Provident Financial Services Price Performance
The stock’s 50-day moving average is $14.83 and its 200 day moving average is $15.76. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $1.22 billion, a PE ratio of 10.07 and a beta of 1.04.
Provident Financial Services (NYSE:PFS – Get Free Report) last posted its earnings results on Friday, April 19th. The savings and loans company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $114.48 million for the quarter, compared to analysts’ expectations of $114.50 million. Provident Financial Services had a return on equity of 7.31% and a net margin of 16.78%. The business’s revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, equities analysts expect that Provident Financial Services, Inc. will post 1.63 earnings per share for the current year.
Provident Financial Services Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, April 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.96%. The ex-dividend date is Friday, April 26th. Provident Financial Services’s payout ratio is currently 60.00%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of PFS. Commonwealth Equity Services LLC grew its stake in shares of Provident Financial Services by 16.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 61,537 shares of the savings and loans company’s stock valued at $941,000 after purchasing an additional 8,885 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Provident Financial Services by 41.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,016 shares of the savings and loans company’s stock valued at $230,000 after buying an additional 4,403 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in Provident Financial Services by 8.9% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 14,434 shares of the savings and loans company’s stock valued at $221,000 after buying an additional 1,184 shares during the period. Illinois Municipal Retirement Fund purchased a new position in Provident Financial Services during the 3rd quarter worth $681,000. Finally, Privium Fund Management UK Ltd boosted its holdings in shares of Provident Financial Services by 50.0% in the third quarter. Privium Fund Management UK Ltd now owns 49,914 shares of the savings and loans company’s stock valued at $763,000 after acquiring an additional 16,638 shares in the last quarter. 71.97% of the stock is owned by hedge funds and other institutional investors.
Provident Financial Services Company Profile
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. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.