Today’s Stock Alert: How Analysts Feel About Provident Financial Services, Inc. After Making 52-Week High?

Today's Stock Alert: How Analysts Feel About Provident Financial Services, Inc. After Making 52 Week High?

The stock of Provident Financial Services, Inc. (NYSE:PFS) hit a new 52-week high and has $36.25 target or 65.00% above today’s $21.97 share price. The 9 months bullish chart indicates low risk for the $1.46 billion company. The 1-year high was reported on Oct, 28 by Barchart.com. If the $36.25 price target is reached, the company will be worth $949.00M 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 60,738 shares traded hands. Provident Financial Services, Inc. (NYSE:PFS) has risen 8.91% since March 28, 2016 and is uptrending. It has outperformed by 4.20% the S&P500.

Analysts await Provident Financial Services, Inc. (NYSE:PFS) to report earnings on November, 4. They expect $0.34 earnings per share, up 3.03% or $0.01 from last year’s $0.33 per share. PFS’s profit will be $22.59M for 16.15 P/E if the $0.34 EPS becomes a reality. After $0.34 actual earnings per share reported by Provident Financial Services, Inc. for the previous quarter, Wall Street now forecasts 0.00% 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. The stock has “Hold” rating given by Sandler O’Neill on Tuesday, September 13. On Monday, August 3 the stock rating was maintained by RBC Capital Markets with “Outperform”. On Friday, August 14 the stock rating was upgraded by Zacks to “Hold”. The rating was downgraded by Drexel Hamilton to “Hold” on Monday, August 3. The firm earned “Neutral” rating on Tuesday, November 10 by Piper Jaffray. On Friday, July 31 the stock rating was reinitiated by Boenning & Scattergood with “Neutral”.

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 dived, 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.
The Massachusetts-based Putnam Invests Limited Liability Company has invested 0.01% in Provident Financial Services, Inc. (NYSE:PFS). Creative Planning accumulated 52,000 shares or 0.01% of the stock. Brown Brothers Harriman & reported 5,000 shares or 0% of all its holdings. Prudential Financial has 562,005 shares for 0.02% of their US portfolio. Quantbot Technology Ltd Partnership has invested 0.01% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS). Moreover, Da Davidson And has 0% invested in Provident Financial Services, Inc. (NYSE:PFS) for 1,051 shares. New York State Teachers Retirement owns 32,347 shares or 0% of their US portfolio. Allianz Asset Management Ag has 0.01% invested in the company for 1.08 million shares. Blackrock reported 18,766 shares or 0% of all its holdings. Blackrock Advsr Ltd has invested 0% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS). Vanguard Group Incorporated last reported 0.01% of its portfolio in the stock. Legal And General Group Incorporated Public Limited Com has 16,179 shares for 0% of their US portfolio. Panagora Asset Mgmt last reported 11,610 shares in the company. Thrivent Fincl For Lutherans, a Minnesota-based fund reported 234,670 shares. Great West Life Assurance Communication Can has 5,454 shares for 0% of their US portfolio.

Insider Transactions: Since May 3, 2016, the stock had 0 insider buys, and 14 insider sales for $3.43 million net activity. Krasowski Janet D sold $200,000 worth of Provident Financial Services, Inc. (NYSE:PFS) on Tuesday, May 24. 10,000 shares were sold by KUNTZ JOHN F, worth $200,945 on Tuesday, August 2. Shares for $59,084 were sold by FEKETE FRANK L. HERNANDEZ CARLOS had sold 3,200 shares worth $65,092 on Wednesday, June 1. The insider NOVIELLI JACK sold 15,593 shares worth $334,941. Christy James A. sold $226,116 worth of stock or 10,753 shares. Raimonde Michael A also sold $581,648 worth of Provident Financial Services, Inc. (NYSE:PFS) shares.

More recent Provident Financial Services, Inc. (NYSE:PFS) news were published by: Globenewswire.com which released: “Provident Financial Services, Inc. Announces Third Quarter Earnings and …” on October 28, 2016. Also Globenewswire.com published the news titled: “Provident Financial Services, Inc. and The Provident Bank Name Robert Adamo to …” on September 26, 2016. Seekingalpha.com‘s news article titled: “Provident Financial Services’ (PFS) CEO Chris Martin on Q1 2016 Results …” with publication date: April 29, 2016 was also an interesting one.

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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