The stock of Provident Financial Services, Inc. (NYSE:PFS) hit a new 52-week high and has $28.00 target or 3.00% above today’s $27.18 share price. The 6 months bullish chart indicates low risk for the $1.79B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $28.00 price target is reached, the company will be worth $53.70 million 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. About 81,234 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 $24.37M for 18.36 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. Zacks upgraded the shares of PFS in a report on Friday, August 14 to “Hold” rating. The stock has “Neutral” rating given by Piper Jaffray on Tuesday, November 10. RBC Capital Markets maintained Provident Financial Services, Inc. (NYSE:PFS) on Monday, August 3 with “Outperform” rating. The stock of Provident Financial Services, Inc. (NYSE:PFS) earned “Neutral” rating by Boenning & Scattergood on Friday, July 31. Sandler O’Neill downgraded the shares of PFS in a report on Tuesday, September 13 to “Hold” rating. The firm has “Hold” rating given on Monday, August 3 by Drexel Hamilton.
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 increased, 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, Principal Gp has 0.03% invested in Provident Financial Services, Inc. (NYSE:PFS) for 1.06M shares. Allianz Asset Management Ag holds 0.01% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS) for 1.08 million shares. Moreover, Martingale Asset Mngmt Ltd Partnership has 0.01% invested in Provident Financial Services, Inc. (NYSE:PFS) for 40,340 shares. The Illinois-based Keeley Asset Mngmt Corporation has invested 1.37% in Provident Financial Services, Inc. (NYSE:PFS). Intll reported 45,134 shares or 0% of all its holdings. Prudential accumulated 0.02% or 562,005 shares. Parametric Port Assoc holds 168,011 shares or 0.01% of its portfolio. Peapack Gladstone Corporation holds 0% or 10,000 shares in its portfolio. Moreover, Raymond James Fincl Service Advisors has 0% invested in Provident Financial Services, Inc. (NYSE:PFS) for 16,675 shares. Morgan Stanley has invested 0% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS). Panagora Asset Management owns 11,610 shares or 0% of their US portfolio. Comerica Comml Bank owns 61,050 shares or 0.01% of their US portfolio. Ls Invest Advsr Lc holds 0% or 2,029 shares in its portfolio. Northern Tru accumulated 0.01% or 2.27 million shares. Pub Sector Pension Investment Board accumulated 0.01% or 41,786 shares.
Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 10 insider sales for $2.53 million net activity. 10,698 shares were sold by KUNTZ JOHN F, worth $230,460 on Friday, September 2. Another trade for 10,753 shares valued at $226,116 was made by Christy James A. on Tuesday, August 23. $65,092 worth of shares were sold by HERNANDEZ CARLOS on Wednesday, June 1. BLUM DONALD W had sold 14,040 shares worth $301,730. 5,500 shares were sold by NOVIELLI JACK, worth $118,183 on Tuesday, August 30. Another trade for 27,267 shares valued at $580,964 was sold by MARTIN CHRISTOPHER P. FEKETE FRANK L sold $93,078 worth of Provident Financial Services, Inc. (NYSE:PFS) on Thursday, August 11.
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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.