Provident Financial Services, Inc. (NYSE:PFS) Receives $19.00 Consensus PT from Analysts

Shares of Provident Financial Services, Inc. (NYSE:PFSGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the four analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $19.00.

Several equities research analysts have issued reports on PFS shares. DA Davidson upgraded Provident Financial Services from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $20.00 in a report on Monday, April 22nd. StockNews.com upgraded Provident Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods dropped their price objective on Provident Financial Services from $20.00 to $17.00 and set a “market perform” rating on the stock in a report on Tuesday, March 26th. TheStreet downgraded Provident Financial Services from a “b-” rating to a “c+” rating in a report on Wednesday, March 13th. Finally, Royal Bank of Canada lifted their price objective on Provident Financial Services from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd.

Read Our Latest Research Report on PFS

Provident Financial Services Stock Performance

NYSE PFS opened at $15.64 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 9.78 and a beta of 1.04. Provident Financial Services has a 1-year low of $13.21 and a 1-year high of $19.62. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50-day simple moving average is $14.87 and its 200-day simple moving average is $15.81.

Provident Financial Services (NYSE:PFSGet Free Report) last released its quarterly earnings data on Friday, April 19th. The savings and loans company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The business had revenue of $114.48 million for the quarter, compared to analyst estimates of $114.50 million. Provident Financial Services had a return on equity of 7.31% and a net margin of 16.78%. The company’s revenue was down 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. Equities analysts predict that Provident Financial Services will post 1.63 EPS for the current year.

Provident Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, April 29th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend is Friday, April 26th. Provident Financial Services’s dividend payout ratio is presently 60.00%.

Institutional Investors Weigh In On Provident Financial Services

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in Provident Financial Services by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 889,829 shares of the savings and loans company’s stock valued at $13,605,000 after buying an additional 60,765 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Provident Financial Services by 76.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 109,041 shares of the savings and loans company’s stock valued at $1,667,000 after buying an additional 47,217 shares during the period. Illinois Municipal Retirement Fund acquired a new position in Provident Financial Services during the third quarter valued at $681,000. Caxton Associates LP acquired a new position in Provident Financial Services during the third quarter valued at $573,000. Finally, Trexquant Investment LP acquired a new position in Provident Financial Services during the third quarter valued at $532,000. 71.97% of the stock is owned by institutional investors and hedge funds.

Provident Financial Services Company Profile

(Get Free Report

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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