RBC Capital Keeps Their Hold Rating on Provident Financial Services (PFS)


RBC Capital analyst Steven Duong maintained a Hold rating on Provident Financial Services (PFS) on November 2 and set a price target of $15.00. The company’s shares closed last Tuesday at $14.33.

According to TipRanks.com, Duong is a 2-star analyst with an average return of 0.3% and a 58.1% success rate. Duong covers the Financial sector, focusing on stocks such as People’s United Financial, Valley National Bancorp, and First Commonwealth.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Provident Financial Services with a $14.67 average price target.

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Based on Provident Financial Services’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $84.19 million and net profit of $14.31 million. In comparison, last year the company earned revenue of $91.58 million and had a net profit of $31.4 million.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PFS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Provident Financial Services, Inc. operates as a holding company for the Provident Bank, which provides banking services to individual and corporate customers in northern and central New Jersey and eastern Pennsylvania. It attracts deposits from the general public and businesses primarily in the areas surrounding its banking offices and uses those funds, together with funds generated from operations and borrowings, to originate commercial real estate loans, residential mortgage loans, commercial business loans, and consumer loans. The firm also invests in mortgage backed securities and other permissible investments. The company was founded on January 15, 2003 and is headquartered in Jersey City, NJ.

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