Valerie O. Murray Acquires 1,400 Shares of Provident Financial Services, Inc. (NYSE:PFS) Stock
Provident Financial Services, Inc. (NYSE:PFS – Get Rating) EVP Valerie O. Murray purchased 1,400 shares of the stock in a transaction that occurred on Tuesday, June 14th. The shares were purchased at an average price of $21.62 per share, with a total value of $30,268.00. Following the completion of the acquisition, the executive vice president now directly owns 39,683 shares in the company, valued at $857,946.46. The purchase was disclosed in a filing with the SEC, which is available through this link.
Provident Financial Services stock traded up $0.16 during mid-day trading on Tuesday, reaching $21.76. 307,935 shares of the company traded hands, compared to its average volume of 345,724. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s 50 day moving average price is $22.40 and its 200 day moving average price is $23.44. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 10.17 and a beta of 0.91. Provident Financial Services, Inc. has a 52-week low of $20.86 and a 52-week high of $26.20.
Provident Financial Services (NYSE:PFS – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The savings and loans company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $114.67 million for the quarter, compared to the consensus estimate of $115.10 million. Provident Financial Services had a net margin of 33.46% and a return on equity of 9.79%. During the same period in the previous year, the firm earned $0.63 EPS. On average, sell-side analysts anticipate that Provident Financial Services, Inc. will post 2.2 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Thursday, May 12th. Provident Financial Services’s dividend payout ratio is presently 44.86%.
Separately, StockNews.com began coverage on shares of Provident Financial Services in a research report on Thursday, March 31st. They set a “hold” rating on the stock.
Several large investors have recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. purchased a new stake in shares of Provident Financial Services in the 1st quarter worth about $171,000. Captrust Financial Advisors grew its position in shares of Provident Financial Services by 15.5% in the 1st quarter. Captrust Financial Advisors now owns 16,305 shares of the savings and loans company’s stock worth $382,000 after buying an additional 2,188 shares during the period. Invesco Ltd. grew its position in shares of Provident Financial Services by 60.2% in the 1st quarter. Invesco Ltd. now owns 1,073,084 shares of the savings and loans company’s stock worth $25,110,000 after buying an additional 403,067 shares during the period. Renaissance Technologies LLC grew its position in shares of Provident Financial Services by 70.6% in the 1st quarter. Renaissance Technologies LLC now owns 366,046 shares of the savings and loans company’s stock worth $8,565,000 after buying an additional 151,446 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Provident Financial Services by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 732,800 shares of the savings and loans company’s stock worth $17,148,000 after buying an additional 17,557 shares during the period. 63.82% of the stock is currently owned by hedge funds and other institutional investors.
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.
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