Exclusive: Does Provident Financial Services, Inc. Have More Gas After Making 52-Week High?

Exclusive: Does Provident Financial Services, Inc. Have More Gas After Making 52 Week High?

The stock of Provident Financial Services, Inc. (NYSE:PFS) hit a new 52-week high and has $27.82 target or 3.00% above today’s $27.01 share price. The 8 months bullish chart indicates low risk for the $1.82B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $27.82 price target is reached, the company will be worth $54.60 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 47,326 shares traded hands. Provident Financial Services, Inc. (NYSE:PFS) has risen 30.08% since April 20, 2016 and is uptrending. It has outperformed by 25.53% 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. Drexel Hamilton downgraded Provident Financial Services, Inc. (NYSE:PFS) on Monday, August 3 to “Hold” rating. The rating was downgraded by Piper Jaffray to “Neutral” on Tuesday, November 10. Zacks upgraded the shares of PFS in a report on Friday, August 14 to “Hold” rating. The stock has “Neutral” rating given by Boenning & Scattergood on Friday, July 31. The stock of Provident Financial Services, Inc. (NYSE:PFS) earned “Hold” rating by Sandler O’Neill on Tuesday, September 13. The firm has “Outperform” rating by RBC Capital Markets given on Monday, August 3.

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 2016 Q2. 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.
Great West Life Assurance Can accumulated 0% or 5,454 shares. Bnp Paribas Arbitrage Sa has invested 0% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS). Moreover, Hennessy has 0.21% invested in Provident Financial Services, Inc. (NYSE:PFS) for 345,000 shares. Rothschild Asset Mgmt has 0.05% invested in the company for 138,109 shares. Moreover, Keeley Asset Management has 1.37% invested in Provident Financial Services, Inc. (NYSE:PFS) for 1.68 million shares. Adams Diversified Equity Fund Inc last reported 17,500 shares in the company. 1St Glob Advisors holds 0.04% or 14,010 shares in its portfolio. Blackrock Mgmt Ltd accumulated 280,340 shares or 0.01% of the stock. Quantbot Techs L P accumulated 6,189 shares or 0.01% of the stock. Nordea Mgmt, a Sweden-based fund reported 34,200 shares. Ladenburg Thalmann Service holds 0% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS) for 6,490 shares. Deutsche Natl Bank Ag holds 0% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS) for 203,734 shares. Tower Rech Cap Limited Liability Co (Trc) has 0% invested in the company for 2,199 shares. Alliancebernstein Limited Partnership holds 0% or 96,931 shares in its portfolio. Comerica National Bank & Trust holds 0.01% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS) for 61,050 shares.

Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 11 sales for $2.59 million net activity. HERNANDEZ CARLOS had sold 3,200 shares worth $65,092 on Wednesday, June 1. Shares for $226,116 were sold by Christy James A.. 10,000 Provident Financial Services, Inc. (NYSE:PFS) shares with value of $200,945 were sold by KUNTZ JOHN F. NOVIELLI JACK sold $334,941 worth of Provident Financial Services, Inc. (NYSE:PFS) on Tuesday, August 30. Another trade for 10,994 shares valued at $235,120 was sold by BLUM DONALD W. MARTIN CHRISTOPHER P had sold 27,267 shares worth $580,964 on Monday, August 29. 10,000 Provident Financial Services, Inc. (NYSE:PFS) shares with value of $200,000 were sold by Krasowski Janet D.

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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