Provident Financial Services (NYSE:PFS) Sets New 52-Week High – Time to Buy?

Provident Financial Services, Inc (NYSE:PFS)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $21.29 and last traded at $21.0540, with a volume of 1547156 shares. The stock had previously closed at $21.02.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research lowered Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. DA Davidson cut Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Provident Financial Services in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.70.

Provident Financial Services Trading Up 0.2%

The firm has a market cap of $2.75 billion, a P/E ratio of 10.74 and a beta of 0.88. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day moving average of $19.04 and a 200-day moving average of $18.72.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Thursday, February 17th. The savings and loans company reported $0.68 EPS for the quarter. The firm had revenue of $114.54 million during the quarter. Provident Financial Services had a return on equity of 9.62% and a net margin of 18.76%. Equities research analysts forecast that Provident Financial Services, Inc will post 2.14 earnings per share for the current year.

Provident Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, November 14th. Provident Financial Services’s dividend payout ratio (DPR) is 48.98%.

Insiders Place Their Bets

In other Provident Financial Services news, CEO George Lista sold 8,262 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $18.35, for a total transaction of $151,607.70. Following the completion of the transaction, the chief executive officer directly owned 108,656 shares of the company’s stock, valued at $1,993,837.60. The trade was a 7.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Provident Financial Services

Large investors have recently made changes to their positions in the company. Salomon & Ludwin LLC acquired a new position in shares of Provident Financial Services during the third quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its stake in Provident Financial Services by 358.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 1,210 shares in the last quarter. GAMMA Investing LLC boosted its position in Provident Financial Services by 45.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,767 shares of the savings and loans company’s stock worth $34,000 after acquiring an additional 548 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Provident Financial Services by 633.8% in the second quarter. Hantz Financial Services Inc. now owns 2,040 shares of the savings and loans company’s stock worth $36,000 after purchasing an additional 1,762 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Provident Financial Services during the second quarter valued at $39,000. Institutional investors and hedge funds own 71.97% of the company’s stock.

Provident Financial Services Company Profile

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.