George Lista Buys 1,000 Shares of Provident Financial Services, Inc. (NYSE:PFS) Stock

Provident Financial Services, Inc. (NYSE:PFS) CEO George Lista acquired 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $16.73 per share, with a total value of $16,730.00. Following the completion of the transaction, the chief executive officer now owns 9,956 shares in the company, valued at $166,563.88. This represents a 11.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Provident Financial Services Stock Up 2.9 %

Shares of NYSE PFS opened at $17.14 on Friday. The firm has a market cap of $2.24 billion, a PE ratio of 16.32 and a beta of 1.06. Provident Financial Services, Inc. has a 12-month low of $13.07 and a 12-month high of $22.24. The company’s fifty day simple moving average is $18.41 and its 200 day simple moving average is $19.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.95.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share (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, sell-side analysts forecast that Provident Financial Services, Inc. will post 2.14 earnings per share for the current fiscal year.

Provident Financial Services Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its position in Provident Financial Services by 120.6% in 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 during the period. Aquatic Capital Management LLC bought a new stake in Provident Financial Services during the 4th quarter worth approximately $46,000. Federated Hermes Inc. bought a new stake in Provident Financial Services during the 4th quarter worth approximately $55,000. Sterling Capital Management LLC increased its holdings in Provident Financial Services by 805.9% during the 4th quarter. Sterling Capital Management LLC now owns 3,968 shares of the savings and loans company’s stock worth $75,000 after acquiring an additional 3,530 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new position in Provident Financial Services in the 4th quarter worth approximately $99,000. 71.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFS has been the subject of a number of research analyst reports. Hovde Group initiated coverage on shares of Provident Financial Services in a research report on Friday, December 13th. They set an “outperform” rating and a $25.00 price objective for the company. 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 for the company in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Provident Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.