James P. Dunigan Purchases 1,000 Shares of Provident Financial Services, Inc. (PFS) Stock

Provident Financial Services, Inc. (NYSE:PFS) Director James P. Dunigan purchased 1,000 shares of the stock in a transaction dated Wednesday, October 31st. The shares were acquired at an average cost of $24.87 per share, for a total transaction of $24,870.00. Following the completion of the acquisition, the director now owns 4,946 shares of the company’s stock, valued at $123,007.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Provident Financial Services stock opened at $24.65 on Friday. The firm has a market cap of $1.65 billion, a P/E ratio of 15.12, a PEG ratio of 1.80 and a beta of 0.64. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.09 and a quick ratio of 1.10. Provident Financial Services, Inc. has a one year low of $22.22 and a one year high of $29.12.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings data on Friday, October 26th. The savings and loans company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.08. The company had revenue of $91.70 million during the quarter, compared to analysts’ expectations of $89.09 million. Provident Financial Services had a return on equity of 8.09% and a net margin of 25.16%. During the same quarter in the prior year, the business earned $0.41 earnings per share. As a group, research analysts anticipate that Provident Financial Services, Inc. will post 1.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Wednesday, November 14th. Provident Financial Services’s dividend payout ratio (DPR) is presently 55.26%.

A number of brokerages have recently issued reports on PFS. Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a report on Friday, July 27th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $25.50 price target on shares of Provident Financial Services in a report on Wednesday, August 1st. ValuEngine raised Provident Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, Zacks Investment Research raised Provident Financial Services from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $27.83.

Institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in Provident Financial Services during the second quarter valued at $143,000. KBC Group NV purchased a new stake in Provident Financial Services during the second quarter valued at $174,000. Private Advisor Group LLC purchased a new stake in Provident Financial Services during the second quarter valued at $232,000. BlueMountain Capital Management LLC increased its position in Provident Financial Services by 50.9% during the second quarter. BlueMountain Capital Management LLC now owns 11,234 shares of the savings and loans company’s stock valued at $309,000 after acquiring an additional 3,788 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Provident Financial Services during the second quarter valued at $355,000. Institutional investors own 65.14% of the company’s stock.

About Provident Financial Services

Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking 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 and KEOGH accounts.

See Also: Preferred Stock

Insider Buying and Selling by Quarter for Provident Financial Services (NYSE:PFS)

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