The stock of Provident Financial Services, Inc. (NYSE:PFS) reached all time high today, Nov, 14 and still has $43.46 target or 65.00% above today’s $26.34 share price. This indicates more upside for the $1.84 billion company. This technical setup was reported by Barchart.com. If the $43.46 PT is reached, the company will be worth $1.20B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 235,949 shares traded hands or 68.25% up from the average. Provident Financial Services, Inc. (NYSE:PFS) has risen 29.82% since April 12, 2016 and is uptrending. It has outperformed by 24.84% 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. As per Tuesday, November 10, the company rating was downgraded by Piper Jaffray. Sandler O’Neill downgraded the shares of PFS in a report on Tuesday, September 13 to “Hold” rating. The firm earned “Hold” rating on Monday, August 3 by Drexel Hamilton. Boenning & Scattergood reinitiated the shares of PFS in a report on Friday, July 31 with “Neutral” rating. RBC Capital Markets maintained it with “Outperform” rating and $22 target price in Monday, August 3 report. Zacks upgraded Provident Financial Services, Inc. (NYSE:PFS) rating on Friday, August 14. Zacks has “Hold” rating and $22 price target.
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 Q2 2016. Its down 0.12, from 1.21 in 2016Q1. The ratio worsened, 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.
California Employees Retirement System owns 214,773 shares or 0.01% of their US portfolio. The North Carolina-based Wedge Cap L Limited Partnership Nc has invested 0.18% in Provident Financial Services, Inc. (NYSE:PFS). Pub Employees Retirement Association Of Colorado owns 27,168 shares or 0% of their US portfolio. Royal Savings Bank Of Canada has 76,360 shares for 0% of their US portfolio. Pennsylvania Trust Company accumulated 10,207 shares or 0.02% of the stock. State Teachers Retirement Systems last reported 32,347 shares in the company. Victory Incorporated owns 6,319 shares or 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 1,355 shares or 0% of the stock. Fincl Bank Of America Corp De reported 79,134 shares or 0% of all its holdings. Geode Capital Mgmt holds 0% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS) for 440,577 shares. Sei Co holds 0% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS) for 2,213 shares. Dalton Greiner Hartman Maher And holds 1.1% or 902,229 shares in its portfolio. First Citizens Bankshares Tru has 20,466 shares for 0.04% of their US portfolio. State Of New Jersey Common Pension Fund D last reported 0% of its portfolio in the stock. Prudential Finance Incorporated last reported 562,005 shares in the company.
Insider Transactions: Since May 24, 2016, the stock had 0 buys, and 12 sales for $2.79 million net activity. $334,941 worth of Provident Financial Services, Inc. (NYSE:PFS) shares were sold by NOVIELLI JACK. $301,730 worth of Provident Financial Services, Inc. (NYSE:PFS) shares were sold by BLUM DONALD W. On Friday, September 2 the insider KUNTZ JOHN F sold $230,460. 10,753 shares were sold by Christy James A., worth $226,116. On Thursday, August 11 the insider FEKETE FRANK L sold $93,078. $580,964 worth of Provident Financial Services, Inc. (NYSE:PFS) was sold by MARTIN CHRISTOPHER P. The insider HERNANDEZ CARLOS sold 3,200 shares worth $65,092.
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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