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Provident Financial Services (NYSE:PFS - Get Rating) had its price target cut by equities research analysts at Piper Sandler to $24.00 in a note issued to investors on Wednesday, Stock Target Advisor reports. Piper Sandler's target price would indicate a potential upside of 18.69% from the stock's current price.
PFS has been the subject of several other research reports. DA Davidson lowered their price target on shares of Provident Financial Services from $26.00 to $22.00 in a report on Thursday, September 29th. Royal Bank of Canada boosted their price target on shares of Provident Financial Services from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday, August 1st.Provident Financial Services Stock Down 0.6 %
PFS traded down $0.13 during trading hours on Wednesday, hitting $20.22. 861,585 shares of the company's stock were exchanged, compared to its average volume of 353,380. Provident Financial Services has a 12-month low of $19.28 and a 12-month high of $26.20. The firm has a 50 day moving average of $23.40 and a 200 day moving average of $22.86. The firm has a market cap of $1.53 billion, a P/E ratio of 9.67 and a beta of 0.93. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.67.
Provident Financial Services (NYSE:PFS - Get Rating) last announced its earnings results on Friday, July 29th. The savings and loans company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. Provident Financial Services had a net margin of 31.96% and a return on equity of 9.59%. The firm had revenue of $120.41 million for the quarter, compared to the consensus estimate of $120.12 million. During the same period in the prior year, the firm earned $0.58 EPS. The firm's revenue for the quarter was up 7.4% on a year-over-year basis. Analysts predict that Provident Financial Services will post 2.29 EPS for the current fiscal year. Institutional Inflows and Outflows
Several large investors have recently modified their holdings of PFS. Assetmark Inc. boosted its holdings in shares of Provident Financial Services by 146.9% in the 2nd quarter. Assetmark Inc. now owns 1,254 shares of the savings and loans company's stock valued at $28,000 after buying an additional 746 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in Provident Financial Services by 35.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,785 shares of the savings and loans company's stock worth $42,000 after purchasing an additional 470 shares during the period. FMR LLC boosted its stake in Provident Financial Services by 48.7% during the 2nd quarter. FMR LLC now owns 4,016 shares of the savings and loans company's stock worth $90,000 after purchasing an additional 1,315 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in Provident Financial Services during the 1st quarter worth $171,000. Finally, KBC Group NV boosted its stake in Provident Financial Services by 97.3% during the 1st quarter. KBC Group NV now owns 7,597 shares of the savings and loans company's stock worth $178,000 after purchasing an additional 3,746 shares during the period. Institutional investors and hedge funds own 64.32% of the company's stock. Provident Financial Services Company Profile (Get Rating)
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. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.Further ReadingGet a free copy of the StockNews.com research report on Provident Financial Services (PFS)Hot Potato: Lamb Weston Stock Confirms a Top Too Soon: 3 Reasons to Wait on DocuSign StockRite-Aid Sings a Familiar Tune That Investors Don’t Want to Hear Don't Give Up on These Q3 LosersThe Anatomy of a Great Pension Plan
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