Provident Financial Services, Inc. (NYSE:PFS) CEO George Lista Acquires 1,000 Shares

Provident Financial Services, Inc. (NYSE:PFS) CEO George Lista acquired 1,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $16.73 per share, for a total transaction of $16,730.00. Following the transaction, the chief executive officer now directly owns 9,956 shares of the company’s stock, valued at approximately $166,563.88. This trade represents a 11.17 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Provident Financial Services Trading Up 2.9 %

NYSE:PFS opened at $17.14 on Monday. Provident Financial Services, Inc. has a one year low of $13.07 and a one year high of $22.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50-day simple moving average is $18.41 and its 200 day simple moving average is $19.08. The firm has a market capitalization of $2.24 billion, a P/E ratio of 16.32 and a beta of 1.06.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.13). Provident Financial Services had a return on equity of 5.60% and a net margin of 10.13%. As a group, analysts forecast that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.

Provident Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.60%. The ex-dividend date of this dividend was Friday, February 14th. Provident Financial Services’s payout ratio is currently 91.43%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. StockNews.com raised shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, Hovde Group started 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Provident Financial Services currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Institutional Investors Weigh In On Provident Financial Services

Hedge funds have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. boosted its stake in Provident Financial Services by 120.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock worth $28,000 after acquiring an additional 820 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Provident Financial Services in the fourth quarter worth about $46,000. Federated Hermes Inc. purchased a new position in Provident Financial Services in the fourth quarter worth about $55,000. Sterling Capital Management LLC raised its holdings in Provident Financial Services by 805.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,968 shares of the savings and loans company’s stock worth $75,000 after buying an additional 3,530 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in Provident Financial Services in the fourth quarter worth about $99,000. Institutional investors own 71.97% of the company’s stock.

About Provident Financial Services

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.