Provident Financial Services (NYSE:PFS) CEO George Lista Sells 8,262 Shares

Provident Financial Services, Inc (NYSE:PFS) CEO George Lista sold 8,262 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $18.35, for a total transaction of $151,607.70. Following the completion of the transaction, the chief executive officer owned 108,656 shares in the company, valued at approximately $1,993,837.60. This trade represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Provident Financial Services Stock Performance

NYSE PFS opened at $18.64 on Tuesday. Provident Financial Services, Inc has a 1-year low of $14.34 and a 1-year high of $22.24. The company has a 50 day moving average of $19.23 and a 200-day moving average of $18.31. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.04. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 9.51 and a beta of 0.95.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Thursday, February 17th. The savings and loans company reported $0.68 EPS for the quarter. The business had revenue of $114.54 million for the quarter. Provident Financial Services had a return on equity of 9.72% and a net margin of 18.76%. On average, equities analysts forecast that Provident Financial Services, Inc will post 2.14 earnings per share for the current fiscal year.

Provident Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.96 dividend on an annualized basis and a yield of 5.2%. Provident Financial Services’s payout ratio is currently 48.98%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC acquired a new stake in shares of Provident Financial Services during the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its position in shares of Provident Financial Services by 358.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 1,210 shares during the period. GAMMA Investing LLC increased its stake in shares of Provident Financial Services by 45.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,767 shares of the savings and loans company’s stock worth $34,000 after purchasing an additional 548 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Provident Financial Services by 633.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,040 shares of the savings and loans company’s stock worth $36,000 after purchasing an additional 1,762 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Provident Financial Services in the 2nd quarter valued at about $39,000. 71.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Provident Financial Services in a research note on Wednesday, October 8th. Hovde Group boosted their target price on shares of Provident Financial Services from $22.50 to $23.50 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Zacks Research lowered shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Finally, DA Davidson cut shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.70.

Provident Financial Services Company Profile

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.