Provident Financial Services (PFS) Rating Lowered to Hold at Sandler O’Neill
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.
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.
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