The stock of Provident Financial Services, Inc. (NYSE:PFS) reached all time high today, Nov, 22 and still has $28.60 target or 6.00% above today’s $26.98 share price. This indicates more upside for the $1.78 billion company. This technical setup was reported by Barchart.com. If the $28.60 PT is reached, the company will be worth $106.80 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 79,964 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. The stock of Provident Financial Services, Inc. (NYSE:PFS) has “Outperform” rating given on Monday, August 3 by RBC Capital Markets. Zacks upgraded it to “Hold” rating and $22 target price in Friday, August 14 report. The company was downgraded on Monday, August 3 by Drexel Hamilton. The rating was downgraded by Sandler O’Neill on Tuesday, September 13 to “Hold”. Piper Jaffray downgraded the stock to “Neutral” rating in Tuesday, November 10 report. The firm has “Neutral” rating by Boenning & Scattergood given on Friday, July 31.
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 improved, 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.
Panagora Asset Management accumulated 0% or 11,610 shares. Paloma Prns Management Company has 0% invested in the company for 11,091 shares. Highlander Capital Ltd holds 0.34% or 18,725 shares in its portfolio. Royal Bancorp Of Canada accumulated 76,360 shares or 0% of the stock. Jennison Assoc Ltd Com holds 0.01% of its portfolio in Provident Financial Services, Inc. (NYSE:PFS) for 350,968 shares. Morgan Stanley owns 162,429 shares or 0% of their US portfolio. Teacher Retirement Sys Of Texas owns 23,020 shares or 0% of their US portfolio. Robeco Institutional Asset Bv has 132,911 shares for 0.02% of their US portfolio. Moreover, Aqr Cap Management Ltd Limited Liability Company has 0% invested in Provident Financial Services, Inc. (NYSE:PFS) for 87,708 shares. Pennsylvania Co holds 10,207 shares or 0.02% of its portfolio. Jpmorgan Chase accumulated 98,232 shares or 0% of the stock. Moreover, Louisiana State Employees Retirement System has 0.03% invested in Provident Financial Services, Inc. (NYSE:PFS) for 26,200 shares. Blackrock Advisors Ltd Liability Company has 0% invested in the company for 28,376 shares. Wellington Mngmt Gru Limited Liability Partnership accumulated 0.01% or 1.61M shares. Moreover, Adams Diversified Equity Fund Inc has 0.02% invested in Provident Financial Services, Inc. (NYSE:PFS) for 17,500 shares.
Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 11 insider sales for $2.59 million net activity. BLUM DONALD W had sold 14,040 shares worth $301,730. $93,078 worth of Provident Financial Services, Inc. (NYSE:PFS) was sold by FEKETE FRANK L. HERNANDEZ CARLOS sold $65,092 worth of stock or 3,200 shares. Shares for $226,116 were sold by Christy James A. on Tuesday, August 23. KUNTZ JOHN F sold $230,460 worth of Provident Financial Services, Inc. (NYSE:PFS) on Friday, September 2. 15,593 shares were sold by NOVIELLI JACK, worth $334,941 on Tuesday, August 30. MARTIN CHRISTOPHER P sold $580,964 worth of Provident Financial Services, Inc. (NYSE:PFS) on Monday, August 29.
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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