Provident Financial Services (NYSE:PFS) was upgraded by investment analysts at Sandler O’Neill from a “hold” rating to a “buy” rating in a research note issued on Friday, The Fly reports.

A number of other analysts have also recently commented on the company. Piper Jaffray Companies reiterated a “hold” rating and set a $28.00 price objective on shares of Provident Financial Services in a research report on Tuesday, January 9th. ValuEngine upgraded Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research cut Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $28.50 price objective on shares of Provident Financial Services in a research report on Wednesday, November 1st. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Provident Financial Services in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $28.30.

Provident Financial Services (NYSE:PFS) traded down $1.59 during mid-day trading on Friday, hitting $25.96. The stock had a trading volume of 195,598 shares, compared to its average volume of 174,932. Provident Financial Services has a 52-week low of $23.19 and a 52-week high of $28.76. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $1,825.46, a PE ratio of 17.13, a P/E/G ratio of 1.62 and a beta of 0.97.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, October 27th. The savings and loans company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.04. Provident Financial Services had a return on equity of 7.61% and a net margin of 25.90%. The firm had revenue of $85.32 million during the quarter, compared to analysts’ expectations of $83.84 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. analysts expect that Provident Financial Services will post 1.54 EPS for the current year.

In other Provident Financial Services news, Director Frank L. Fekete sold 9,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $27.33, for a total value of $245,970.00. Following the completion of the sale, the director now owns 48,903 shares in the company, valued at $1,336,518.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Donald W. Blum sold 6,100 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $28.47, for a total value of $173,667.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,175 shares of company stock valued at $690,186. 2.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its position in Provident Financial Services by 66.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,990 shares of the savings and loans company’s stock worth $135,000 after buying an additional 2,000 shares in the last quarter. Sei Investments Co. increased its position in Provident Financial Services by 170.1% in the third 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 in the last quarter. Amalgamated Bank increased its position in Provident Financial Services by 1.5% in the second 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 in the last quarter. Susquehanna International Group LLP purchased a new stake in Provident Financial Services in the second quarter worth about $251,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Provident Financial Services in the third quarter worth about $298,000. Institutional investors and hedge funds own 63.80% 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.

The Fly

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

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