Provident Financial Services Inc. (PFS) Sees Strong Trading Volume
Provident Financial Services Inc. (NYSE:PFS) shares saw an uptick in trading volume on Friday . 164,110 shares were traded during trading, a decline of 24% from the previous session’s volume of 216,218 shares.The stock last traded at $20.15 and had previously closed at $20.21.
Separately, Zacks Investment Research upgraded shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Provident Financial Services has a consensus rating of “Buy” and an average price target of $20.75.
The company has a market capitalization of $1.29 billion and a price-to-earnings ratio of 15.19. The firm’s 50 day moving average price is $19.76 and its 200 day moving average price is $19.51.
Provident Financial Services (NYSE:PFS) last released its earnings results on Friday, April 29th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.01. The business had revenue of $76 million for the quarter, compared to the consensus estimate of $65.66 million. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. On average, equities analysts anticipate that Provident Financial Services Inc. will post $1.36 EPS for the current year.
In other Provident Financial Services news, Director Carlos Hernandez sold 3,200 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $20.34, for a total value of $65,088.00. Following the transaction, the director now directly owns 80,184 shares in the company, valued at approximately $1,630,942.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Janet D. Krasowski sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the executive vice president now owns 42,512 shares in the company, valued at $850,240. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in Provident Financial Services by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 1,071,414 shares of the company’s stock worth $21,589,000 after buying an additional 37,693 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in shares of Provident Financial Services during the fourth quarter valued at $3,778,000. Nationwide Fund Advisors raised its position in shares of Provident Financial Services by 14.9% in the fourth quarter. Nationwide Fund Advisors now owns 186,766 shares of the company’s stock valued at $3,763,000 after buying an additional 24,261 shares during the last quarter. Comerica Bank raised its position in shares of Provident Financial Services by 4.7% in the fourth quarter. Comerica Bank now owns 129,209 shares of the company’s stock valued at $2,412,000 after buying an additional 5,850 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Provident Financial Services by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 121,583 shares of the company’s stock valued at $2,450,000 after buying an additional 1,931 shares during the last quarter.
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 and operates 86 full-service branch offices in the New Jersey counties of Hudson, Bergen, Essex, Mercer, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Union and Warren, as well as in Bucks, Lehigh and Northampton counties in Pennsylvania.
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