Provident Financial Services (NYSE:PFS) was downgraded by investment analysts at Sandler O’Neill from a “buy” rating to a “hold” rating in a research note issued on Thursday. The analysts noted that the move was a valuation call.

Other analysts have also recently issued research reports about the company. Royal Bank Of Canada restated a “buy” rating and issued a $30.00 price target on shares of Provident Financial Services in a report on Friday, September 8th. Zacks Investment Research raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, November 1st. ValuEngine lowered Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $28.50 price objective on shares of Provident Financial Services in a research note on Wednesday, November 1st. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.80.

Shares of Provident Financial Services (NYSE:PFS) opened at $27.45 on Thursday. The company has a market capitalization of $1,817.49, a PE ratio of 18.11, a P/E/G ratio of 1.77 and a beta of 0.97. Provident Financial Services has a 52-week low of $23.19 and a 52-week 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.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, October 27th. The savings and loans company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $85.32 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $0.36 EPS. analysts expect that Provident Financial Services will post 1.54 earnings per share for the current year.

In other Provident Financial Services news, Director Edward Odonnell sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 91,335 shares of the company’s stock, valued at approximately $2,493,445.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Laura L. Brooks sold 4,075 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $25.99, for a total value of $105,909.25. Following the completion of the transaction, the director now directly owns 62,905 shares in the company, valued at $1,634,900.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,175 shares of company stock worth $444,216. 2.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in shares of Provident Financial Services in the 2nd quarter valued at approximately $118,000. Sei Investments Co. increased its holdings in shares of Provident Financial Services by 170.1% in the 3rd quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock valued at $160,000 after acquiring an additional 3,796 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Provident Financial Services by 1.5% in the 2nd quarter. Amalgamated Bank now owns 8,387 shares of the savings and loans company’s stock valued at $213,000 after acquiring an additional 126 shares during the last quarter. Susquehanna International Group LLP bought a new position in Provident Financial Services during the 2nd quarter worth $251,000. Finally, Crossmark Global Holdings Inc. bought a new position in Provident Financial Services during the 3rd quarter worth $298,000. 63.99% of the stock is currently owned by institutional investors.

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About Provident Financial Services

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.

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

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