Key Points
- CEO George Lista sold 8,262 shares on Nov. 6 at an average price of $18.35 for $151,607.70, reducing his ownership by 7.07% to 108,656 shares (about $1.99M).
- The company declared a quarterly dividend of $0.24 (annualized $0.96) for a 5.2% yield, with record/ex-dividend date on Nov. 14 and payment on Nov. 28.
- Provident trades with a market cap of $2.43B and a P/E of 9.51; analysts give it a “Moderate Buy” consensus with an average target of $22.70 and expected FY EPS of $2.14.
Provident Financial Services, Inc (NYSE:PFS - Get Free Report) CEO George Lista sold 8,262 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $18.35, for a total value of $151,607.70. Following the completion of the transaction, the chief executive officer owned 108,656 shares of the company's stock, valued at $1,993,837.60. The trade was a 7.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Provident Financial Services Trading Down 0.2%
NYSE PFS opened at $18.64 on Tuesday. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 9.51 and a beta of 0.95. Provident Financial Services, Inc has a twelve month low of $14.34 and a twelve month high of $22.24. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.04. The business's fifty day moving average is $19.23 and its 200 day moving average is $18.31.
Provident Financial Services (NYSE:PFS - Get Free Report) last posted its earnings results 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 9.72% and a net margin of 18.76%. As a group, sell-side analysts expect that Provident Financial Services, Inc will post 2.14 EPS for the current fiscal year.
Provident Financial Services Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.2%. The ex-dividend date is Friday, November 14th. Provident Financial Services's dividend payout ratio is 48.98%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on PFS shares. DA Davidson downgraded shares of Provident Financial Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Provident Financial Services in a research report on Wednesday, October 8th. Zacks Research lowered Provident Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Finally, Hovde Group raised their price objective on Provident Financial Services from $22.50 to $23.50 and gave the stock an "outperform" rating in a research report on Friday, July 25th. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.70.
Read Our Latest Stock Report on Provident Financial Services
Institutional Trading of Provident Financial Services
Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in Provident Financial Services by 45.0% during the third quarter. GAMMA Investing LLC now owns 1,767 shares of the savings and loans company's stock valued at $34,000 after purchasing an additional 548 shares during the period. Arizona State Retirement System lifted its position in shares of Provident Financial Services by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 36,730 shares of the savings and loans company's stock valued at $708,000 after buying an additional 549 shares during the last quarter. Amalgamated Bank grew its stake in shares of Provident Financial Services by 1.7% during the 3rd quarter. Amalgamated Bank now owns 37,828 shares of the savings and loans company's stock worth $729,000 after acquiring an additional 618 shares during the period. Leigh Baldwin & CO. LLC increased its holdings in Provident Financial Services by 1.3% in the 1st quarter. Leigh Baldwin & CO. LLC now owns 49,643 shares of the savings and loans company's stock worth $852,000 after acquiring an additional 645 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Provident Financial Services by 30.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,893 shares of the savings and loans company's stock valued at $50,000 after acquiring an additional 667 shares during the period. Institutional investors own 71.97% of the company's stock.
About Provident Financial Services
(
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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