Price Action Don’t Lie: Could Provident Financial Services, Inc. Skyrocket Even More? The Stock Just Made All-Time High

Price Action Don't Lie: Could Provident Financial Services, Inc. Skyrocket Even More? The Stock Just Made All Time High

The stock of Provident Financial Services, Inc. (NYSE:PFS) reached all time high today, Nov, 29 and still has $29.20 target or 7.00% above today’s $27.29 share price. This indicates more upside for the $1.80 billion company. This technical setup was reported by Barchart.com. If the $29.20 PT is reached, the company will be worth $126.00 million 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 108,531 shares traded hands. Provident Financial Services, Inc. (NYSE:PFS) has risen 30.75% since April 26, 2016 and is uptrending. It has outperformed by 25.49% the S&P500.

Analysts await Provident Financial Services, Inc. (NYSE:PFS) to report earnings on February, 3. They expect $0.37 EPS, up 8.82% or $0.03 from last year’s $0.34 per share. PFS’s profit will be $24.40M for 18.44 P/E if the $0.37 EPS becomes a reality. After $0.36 actual EPS reported by Provident Financial Services, Inc. for the previous quarter, Wall Street now forecasts 2.78% EPS growth.

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. On Tuesday, November 10 the stock rating was downgraded by Piper Jaffray to “Neutral”. As per Monday, August 3, the company rating was maintained by RBC Capital Markets. Boenning & Scattergood reinitiated Provident Financial Services, Inc. (NYSE:PFS) on Friday, July 31 with “Neutral” rating. Drexel Hamilton downgraded the shares of PFS in a report on Monday, August 3 to “Hold” rating. On Tuesday, September 13 the stock rating was downgraded by Sandler O’Neill to “Hold”. The stock of Provident Financial Services, Inc. (NYSE:PFS) has “Hold” rating given on Friday, August 14 by Zacks.

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 increased to 1.13 in Q2 2016. Its up 0.04, from 1.09 in 2016Q1. The ratio is positive, 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.
Moreover, Tower Rech Capital Ltd Liability Corporation (Trc) has 0% invested in Provident Financial Services, Inc. (NYSE:PFS) for 2,199 shares. Robeco Institutional Asset Mgmt Bv last reported 0.02% of its portfolio in the stock. Texas Permanent School Fund holds 45,237 shares or 0.01% of its portfolio. Da Davidson & Communication holds 0% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS) for 1,051 shares. Raymond James Financial Advsr has 16,675 shares for 0% of their US portfolio. Jacobs Levy Equity holds 0.02% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS) for 50,369 shares. Aqr Capital Mngmt Lc accumulated 0% or 87,708 shares. The Pennsylvania-based Emerald Advisers Pa has invested 0.04% in Provident Financial Services, Inc. (NYSE:PFS). Amer Fincl Group Inc holds 14,439 shares or 0.02% of its portfolio. Moreover, Renaissance Tech Ltd Company has 0.03% invested in Provident Financial Services, Inc. (NYSE:PFS) for 912,600 shares. Nationwide Fund Advsrs owns 172,693 shares or 0.01% of their US portfolio. Pub Employees Retirement Association Of Colorado accumulated 0% or 27,168 shares. Highlander Cap Lc reported 18,725 shares or 0.34% of all its holdings. Deere And holds 12,346 shares or 0.01% of its portfolio. Moreover, Teacher Retirement System Of Texas has 0% invested in Provident Financial Services, Inc. (NYSE:PFS) for 23,020 shares.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 10 sales for $2.53 million net activity. Christy James A. had sold 10,753 shares worth $226,116. 10,698 shares with value of $230,460 were sold by KUNTZ JOHN F on Friday, September 2. BLUM DONALD W sold $235,120 worth of stock. Another trade for 15,593 shares valued at $334,941 was sold by NOVIELLI JACK. MARTIN CHRISTOPHER P sold $580,964 worth of stock. $65,092 worth of shares were sold by HERNANDEZ CARLOS on Wednesday, June 1. 4,559 shares were sold by FEKETE FRANK L, worth $93,078.

More news for Provident Financial Services, Inc. (NYSE:PFS) were recently published by: Nasdaq.com, which released: “Ex-Dividend Reminder: NorthStar Asset Management Group, Provident Financial …” on November 08, 2016. Globenewswire.com‘s article titled: “Provident Financial Services, Inc. Schedules Second Quarter Earnings …” and published on July 01, 2016 is yet another important article.

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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