Provident Financial Services, Inc. (NYSE:PFS) CEO George Lista Buys 1,094 Shares of Stock

Provident Financial Services, Inc. (NYSE:PFSGet Free Report) CEO George Lista bought 1,094 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average cost of $15.85 per share, for a total transaction of $17,339.90. Following the completion of the acquisition, the chief executive officer now directly owns 7,835 shares in the company, valued at approximately $124,184.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Provident Financial Services Stock Performance

Shares of NYSE PFS opened at $15.43 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s fifty day moving average price is $17.22 and its two-hundred day moving average price is $16.40. Provident Financial Services, Inc. has a one year low of $13.43 and a one year high of $24.58. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 9.02 and a beta of 1.11.

Provident Financial Services (NYSE:PFSGet Free Report) last released its earnings results on Friday, January 26th. The savings and loans company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The company had revenue of $114.76 million for the quarter, compared to the consensus estimate of $114.30 million. Provident Financial Services had a net margin of 18.46% and a return on equity of 7.88%. The business’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, equities analysts forecast that Provident Financial Services, Inc. will post 1.62 EPS for the current year.

Provident Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.22%. Provident Financial Services’s payout ratio is 56.14%.

Institutional Trading of Provident Financial Services

A number of institutional investors have recently modified their holdings of PFS. Advisor Group Holdings Inc. lifted its position in shares of Provident Financial Services by 35.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,785 shares of the savings and loans company’s stock valued at $42,000 after acquiring an additional 470 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Provident Financial Services by 19.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 12,296 shares of the savings and loans company’s stock worth $288,000 after buying an additional 1,986 shares during the last quarter. Citigroup Inc. lifted its position in shares of Provident Financial Services by 6.4% during the 1st quarter. Citigroup Inc. now owns 67,130 shares of the savings and loans company’s stock worth $1,571,000 after buying an additional 4,031 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of Provident Financial Services by 45.3% during the 1st quarter. Natixis Advisors L.P. now owns 15,646 shares of the savings and loans company’s stock worth $366,000 after buying an additional 4,877 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Provident Financial Services by 69.9% during the 1st quarter. Bank of Montreal Can now owns 36,093 shares of the savings and loans company’s stock worth $855,000 after buying an additional 14,853 shares during the last quarter. 72.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on PFS. TheStreet raised Provident Financial Services from a “c+” rating to a “b-” rating in a report on Wednesday, January 10th. Royal Bank of Canada decreased their price objective on Provident Financial Services from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Provident Financial Services has an average rating of “Hold” and an average target price of $21.00.

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Provident Financial Services Company Profile

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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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