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

A number of other research analysts have also issued reports on PFS. BidaskClub lowered shares of Provident Financial Services from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. ValuEngine lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $28.50 price objective on shares of Provident Financial Services in a report on Wednesday, November 1st. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Provident Financial Services in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $27.80.

Provident Financial Services (NYSE:PFS) traded up $1.10 during mid-day trading on Thursday, hitting $28.75. 400,600 shares of the stock were exchanged, compared to its average volume of 190,572. The company has a market capitalization of $1,920.00, a PE ratio of 18.31, a P/E/G ratio of 1.79 and a beta of 0.98. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.08 and a quick ratio of 1.08. Provident Financial Services has a 52-week low of $23.19 and a 52-week high of $28.92.

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

In other Provident Financial Services news, Director Laura L. Brooks sold 4,075 shares of the firm’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 transaction of $105,909.25. Following the completion of the transaction, the director now owns 62,905 shares in the company, valued at approximately $1,634,900.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carlos Hernandez sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $27.58, for a total transaction of $82,740.00. Following the transaction, the director now owns 81,958 shares of the company’s stock, valued at approximately $2,260,401.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,075 shares of company stock valued at $270,549. Company insiders own 2.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Provident Financial Services during the 2nd quarter worth approximately $118,000. Sei Investments Co. grew its position in shares of Provident Financial Services by 170.1% during the 3rd quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock worth $160,000 after buying an additional 3,796 shares during the period. Amalgamated Bank grew its position in shares of Provident Financial Services by 1.5% during the 2nd quarter. Amalgamated Bank now owns 8,387 shares of the savings and loans company’s stock worth $213,000 after buying an additional 126 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Provident Financial Services during the 2nd quarter worth approximately $251,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Provident Financial Services during the 3rd quarter worth approximately $298,000. Hedge funds and other institutional investors own 63.99% of the company’s stock.

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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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