Shares of Provident Financial Services, Inc (NYSE:PFS) have earned an average recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $27.50.

A number of brokerages have recently issued reports on PFS. BidaskClub cut shares of Provident Financial Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. Piper Jaffray Companies reissued a “hold” rating and issued a $25.50 price objective on shares of Provident Financial Services in a research note on Friday, July 14th. Zacks Investment Research raised shares of Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Wednesday, August 2nd. ValuEngine cut shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, DA Davidson began coverage on shares of Provident Financial Services in a research note on Friday, September 1st. They issued a “neutral” rating and a $25.00 price objective for the company.

COPYRIGHT VIOLATION NOTICE: “Provident Financial Services, Inc (PFS) Receives $27.50 Average Target Price from Brokerages” was originally posted by Daily Political and is the property of of Daily Political. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/09/23/provident-financial-services-inc-pfs-receives-27-50-average-target-price-from-brokerages.html.

Hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its position in Provident Financial Services by 5.1% during the second quarter. Jennison Associates LLC now owns 51,163 shares of the savings and loans company’s stock valued at $1,299,000 after purchasing an additional 2,497 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Provident Financial Services by 7.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 301,721 shares of the savings and loans company’s stock worth $7,800,000 after acquiring an additional 21,075 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Provident Financial Services by 2.8% in the 1st quarter. Legal & General Group Plc now owns 110,127 shares of the savings and loans company’s stock worth $2,846,000 after acquiring an additional 2,988 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Provident Financial Services by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 5,548,692 shares of the savings and loans company’s stock worth $143,433,000 after acquiring an additional 394,788 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Provident Financial Services by 1.7% in the 1st quarter. Wells Fargo & Company MN now owns 108,931 shares of the savings and loans company’s stock worth $2,816,000 after acquiring an additional 1,802 shares during the last quarter. Institutional investors and hedge funds own 61.23% of the company’s stock.

Shares of Provident Financial Services (NYSE PFS) traded up 0.90% on Wednesday, reaching $25.87. 201,796 shares of the company’s stock traded hands. Provident Financial Services has a 52-week low of $20.73 and a 52-week high of $28.92. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 17.84 and a beta of 1.00. The firm’s 50-day moving average is $24.90 and its 200-day moving average is $25.14.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Friday, July 28th. The savings and loans company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. Provident Financial Services had a net margin of 25.39% and a return on equity of 7.40%. The business had revenue of $83.87 million during the quarter, compared to analysts’ expectations of $81.24 million. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. Analysts anticipate that Provident Financial Services will post $1.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.09%. This is a boost from Provident Financial Services’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, August 11th. Provident Financial Services’s dividend payout ratio (DPR) is presently 54.79%.

Provident Financial Services Company Profile

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)

Receive News & Ratings for Provident Financial Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.