The stock of Provident Financial Services, Inc. (NYSE:PFS) hit a new 52-week high and has $32.89 target or 27.00% above today’s $25.90 share price. The 9 months bullish chart indicates low risk for the $1.77 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $32.89 price target is reached, the company will be worth $477.90M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 5.46% or $1.34 during the last trading session, hitting $25.9. About 402,838 shares traded hands or 205.50% up from the average. Provident Financial Services, Inc. (NYSE:PFS) has risen 24.04% since April 11, 2016 and is uptrending. It has outperformed by 17.89% the S&P500.
Provident Financial Services, Inc. (NYSE:PFS) Ratings Coverage
Out of 6 analysts covering Provident Financial Services (NYSE:PFS), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. Provident Financial Services has been the topic of 7 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of Provident Financial Services, Inc. (NYSE:PFS) earned “Neutral” rating by Piper Jaffray on Tuesday, November 10. The rating was upgraded by Zacks on Friday, August 14 to “Hold”. Boenning & Scattergood reinitiated the stock with “Neutral” rating in Friday, July 31 report. The stock of Provident Financial Services, Inc. (NYSE:PFS) has “Hold” rating given on Monday, August 3 by Drexel Hamilton. RBC Capital Markets maintained Provident Financial Services, Inc. (NYSE:PFS) on Monday, August 3 with “Outperform” rating. The company was downgraded on Tuesday, September 13 by Sandler O’Neill.
According to Zacks Investment Research, “Provident Financial Services, Inc. is the holding company of The Provident Bank, a community- and customer-oriented banking company. The Provident Bank emphasizes personal service and customer convenience in attending to the financial needs of individuals, families and businesses in northern and central New Jersey. The bank offers a broad array of deposit, loan, trust and investment products. In keeping with its Customer-Centric Strategy.”
Insitutional Activity: The institutional sentiment decreased to 1.09 in 2016 Q2. Its down 0.12, from 1.21 in 2016Q1. The ratio turned negative, as 6 funds sold all Provident Financial Services, Inc. shares owned while 48 reduced positions. 12 funds bought stakes while 47 increased positions. They now own 40.44 million shares or 0.63% more from 40.18 million shares in 2016Q1.
Jpmorgan Chase And Co reported 98,232 shares or 0% of all its holdings. The Massachusetts-based Putnam Lc has invested 0.01% in Provident Financial Services, Inc. (NYSE:PFS). Parametric Portfolio Associate Ltd Liability Com has 0.01% invested in the company for 168,011 shares. Teacher Retirement Sys Of Texas reported 23,020 shares or 0% of all its holdings. Principal Finance owns 1.06M shares or 0.03% of their US portfolio. Beacon Trust Communication accumulated 0.49% or 139,076 shares. D E Shaw Co has invested 0% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS). Thrivent For Lutherans has 0.02% invested in the company for 234,670 shares. Moreover, Raymond James Financial has 0% invested in Provident Financial Services, Inc. (NYSE:PFS) for 16,675 shares. The Tennessee-based State Of Tennessee Treasury Department has invested 0% in Provident Financial Services, Inc. (NYSE:PFS). Invesco accumulated 0% or 425,566 shares. Cap One Association has invested 0.04% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS). Profund Advsrs Limited Co holds 0.02% or 19,346 shares in its portfolio. Blackrock Gp Ltd accumulated 108,818 shares or 0% of the stock. Blackrock holds 18,766 shares or 0% of its portfolio.
Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 12 sales for $2.79 million net activity. On Monday, August 29 the insider MARTIN CHRISTOPHER P sold $580,964. On Tuesday, August 2 the insider KUNTZ JOHN F sold $200,945. 14,040 shares with value of $301,730 were sold by BLUM DONALD W on Wednesday, August 31. The insider NOVIELLI JACK sold $118,183. On Tuesday, August 23 Christy James A. sold $226,116 worth of the stock or 10,753 shares. Krasowski Janet D also sold $200,000 worth of Provident Financial Services, Inc. (NYSE:PFS) shares. 3,200 Provident Financial Services, Inc. (NYSE:PFS) shares with value of $65,092 were sold by HERNANDEZ CARLOS.
Another recent and important Provident Financial Services, Inc. (NYSE:PFS) news was published by Nasdaq.com which published an article titled: “Ex-Dividend Reminder: NorthStar Asset Management Group, Provident Financial …” on November 08, 2016.
PFS Company Profile
Provident Financial Services Inc., incorporated on August 13, 2002, is a holding firm for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas. The Bank attracts deposits from the general public and businesses in the areas surrounding its banking offices and uses those funds, together with funds generated from activities and borrowings, to originate commercial real estate loans, residential mortgage loans, commercial business loans and consumer loans. The Bank also invests in mortgage-backed securities and other permissible investments. It operates approximately 90 service branch offices in the New Jersey counties of Hudson, Bergen, Essex, Mercer, Hunterdon, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Union and Warren, as well as in Bucks, Lehigh and Northampton counties in Pennsylvania.
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