Provident Financial Services, Inc (NYSE:PFS – Get Free Report) Director Thomas Shara sold 40,266 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $23.06, for a total value of $928,533.96. Following the completion of the transaction, the director directly owned 382,911 shares of the company’s stock, valued at approximately $8,829,927.66. This trade represents a 9.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Thomas Shara also recently made the following trade(s):
- On Monday, August 31st, Thomas Shara sold 15,900 shares of Provident Financial Services stock. The stock was sold at an average price of $23.30, for a total value of $370,470.00.
Provident Financial Services Stock Up 1.7%
Shares of PFS opened at $23.39 on Thursday. The business’s 50 day moving average is $23.97 and its 200 day moving average is $22.69. The company has a market capitalization of $3.05 billion, a PE ratio of 9.75 and a beta of 0.78. Provident Financial Services, Inc has a 12-month low of $17.69 and a 12-month high of $25.49. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.99.
Provident Financial Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, August 14th. Provident Financial Services’s dividend payout ratio is 40.00%.
Institutional Trading of Provident Financial Services
Several hedge funds and other institutional investors have recently bought and sold shares of PFS. EverSource Wealth Advisors LLC increased its position in Provident Financial Services by 358.0% during the second 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 during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Provident Financial Services in the 4th quarter worth about $33,000. Nykredit A S bought a new stake in shares of Provident Financial Services in the 2nd quarter worth about $55,000. Danske Bank A S bought a new stake in shares of Provident Financial Services in the 3rd quarter worth about $58,000. Finally, First Bancorp Inc ME purchased a new position in shares of Provident Financial Services during the 2nd quarter worth about $86,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. Hovde Group lifted their target price on Provident Financial Services from $26.50 to $28.50 and gave the stock an “outperform” rating in a report on Friday, July 31st. Stephens started coverage on Provident Financial Services in a report on Monday, June 8th. They set an “equal weight” rating and a $24.00 price target for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Provident Financial Services in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $28.00 price objective (up from $26.00) on shares of Provident Financial Services in a report on Monday, August 3rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $29.00 target price (up from $26.00) on shares of Provident Financial Services in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.79.
Check Out Our Latest Analysis on PFS
About Provident Financial Services
Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.
Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.
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