A number of firms have modified their ratings and price targets on shares of Provident Financial Services (NYSE: PFS) recently:

  • 11/9/2017 – Provident Financial Services was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 11/2/2017 – Provident Financial Services was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Provident Financial Services, Inc. is the holding company of The Provident Bank, a community- and customer-oriented banking company. The Provident Bank emphasizes personal service and customer convenience in attending to the financial needs of individuals, families and businesses in northern and central New Jersey. The bank offers a broad array of deposit, loan, trust and investment products. In keeping with its Customer-Centric Strategy. “
  • 11/1/2017 – Provident Financial Services was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $30.00 price target on the stock. According to Zacks, “Provident Financial Services, Inc. is the holding company of The Provident Bank, a community- and customer-oriented banking company. The Provident Bank emphasizes personal service and customer convenience in attending to the financial needs of individuals, families and businesses in northern and central New Jersey. The bank offers a broad array of deposit, loan, trust and investment products. In keeping with its Customer-Centric Strategy. “
  • 11/1/2017 – Provident Financial Services had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $28.50 price target on the stock.
  • 10/27/2017 – Provident Financial Services had its “hold” rating reaffirmed by analysts at Boenning Scattergood. They wrote, “We view Provident Financial Services, Inc. as a well-run institution with strong credit metrics, balance sheet growth in commercial categories that should generate positive economic returns on capital, diversified fee income that has become a larger contributor to revenue, and strong expense controls. However, we believe the current share price accurately reflects the company‚Äôs fundamental position. The stock trades in-line with peers based on 2018 P/E (17.0x vs. 17.4x), but at a discount based on price-to-tangible book (2.1x vs. 2.4x). The current tangible book discount is not enough for us to suggest investors get constructive in the stock considering the peer-like P/E ratio. As such, we maintain our Neutral rating on PFS shares.””
  • 9/28/2017 – Provident Financial Services was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Provident Financial Services, Inc. is the holding company of The Provident Bank, a community- and customer-oriented banking company. The Provident Bank emphasizes personal service and customer convenience in attending to the financial needs of individuals, families and businesses in northern and central New Jersey. The bank offers a broad array of deposit, loan, trust and investment products. In keeping with its Customer-Centric Strategy. “

Shares of Provident Financial Services, Inc (NYSE PFS) traded down $0.04 on Monday, hitting $25.83. The stock had a trading volume of 212,000 shares, compared to its average volume of 183,102. Provident Financial Services, Inc has a 12-month low of $23.19 and a 12-month high of $28.92. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $1,717.11, a price-to-earnings ratio of 17.11, a PEG ratio of 1.67 and a beta of 0.99.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Friday, October 27th. The savings and loans company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The company had revenue of $85.32 million during the quarter, compared to analyst estimates of $83.84 million. Provident Financial Services had a return on equity of 7.61% and a net margin of 25.90%. During the same quarter last year, the business posted $0.36 EPS. research analysts forecast that Provident Financial Services, Inc will post 1.54 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 15th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 3.10%. Provident Financial Services’s dividend payout ratio (DPR) is 52.98%.

In related news, Director Edward Odonnell sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $27.30, for a total value of $81,900.00. Following the completion of the transaction, the director now owns 91,335 shares in the company, valued at approximately $2,493,445.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.

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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