Provident Financial Services, Inc. (NYSE:PFS - Get Free Report) CEO George Lista purchased 1,000 shares of Provident Financial Services stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $16.73 per share, with a total value of $16,730.00. Following the transaction, the chief executive officer now owns 9,956 shares of the company's stock, valued at approximately $166,563.88. This represents a 11.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Provident Financial Services Price Performance
Shares of PFS traded down $0.23 during midday trading on Tuesday, hitting $16.85. 229,865 shares of the company traded hands, compared to its average volume of 787,340. The firm has a 50 day moving average of $18.37 and a 200-day moving average of $19.07. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.01. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $22.24. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of 16.04 and a beta of 1.06.
Provident Financial Services (NYSE:PFS - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.13). Provident Financial Services had a net margin of 10.13% and a return on equity of 5.60%. On average, analysts forecast that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.
Provident Financial Services Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.96 annualized dividend and a dividend yield of 5.70%. Provident Financial Services's dividend payout ratio is currently 91.43%.
Institutional Trading of Provident Financial Services
A number of hedge funds have recently added to or reduced their stakes in PFS. Savant Capital LLC raised its holdings in shares of Provident Financial Services by 6.5% in the 4th quarter. Savant Capital LLC now owns 10,931 shares of the savings and loans company's stock valued at $206,000 after purchasing an additional 664 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Provident Financial Services by 5.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,240 shares of the savings and loans company's stock worth $269,000 after acquiring an additional 704 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Provident Financial Services by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,172 shares of the savings and loans company's stock worth $249,000 after purchasing an additional 714 shares in the last quarter. Foundry Partners LLC lifted its position in shares of Provident Financial Services by 0.4% during the fourth quarter. Foundry Partners LLC now owns 191,748 shares of the savings and loans company's stock valued at $3,618,000 after buying an additional 730 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Provident Financial Services by 6.1% during the fourth quarter. CIBC Asset Management Inc now owns 13,422 shares of the savings and loans company's stock worth $253,000 after purchasing an additional 772 shares in the last quarter. 71.97% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on PFS. StockNews.com raised shares of Provident Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, February 15th. Royal Bank of Canada reduced their price objective on shares of Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Thursday, January 30th. Finally, Hovde Group began coverage on shares of Provident Financial Services in a research note on Friday, December 13th. They set an "outperform" rating and a $25.00 target price on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $24.00.
Get Our Latest Research Report on PFS
About Provident Financial Services
(
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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.
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