Provident Financial Services, I shares had a trading volume of 461K by the end of trading on Tuesday. Trading volume was up 160.44% over the stocks average daily volume.
Traders are more bearish on Provident Financial Services, I as indicated by the rise in short interest. The stock saw a rise in short interest from September 29, 2017 to October 13, 2017 of 25.77%. Short shares increased from 436,615 to 549,148 over that timeframe. The days to cover increased to 3.0 and the percentage of shorted shares is 0.01% as of October 13.
These firms have modified their investment in PFS. First Trust Advisors Lp reduced its stake by shedding 17,771 shares a decrease of 44.0% from 06/30/2017 to 09/30/2017. First Trust Advisors Lp now controls 22,659 shares with a value of $604,000. The total value of its holdings decreased 41.1%. As of the end of the quarter Nationwide Fund Advisors had disposed of 4,792 shares trimming its holdings by 7.1%. The value in dollars decreased from $1,718,000 to $1,678,000 decreasing 2.3% for the reporting period.
Raymond James Financial Services Advisors, Inc. cut its holdings by selling 1,574 shares a decrease of 12.3%. Raymond James Financial Services Advisors, Inc. controls 11,171 shares valued at $298,000. The value of the position overall is down by 7.7%. Aperio Group, LLC grew its investment by buying 176 shares an increase of 1.1% as of 09/30/2017. Aperio Group, LLC claims 15,633 shares worth $417,000. The total value of its holdings increased 6.4%.
Equity analyst DA Davidson starting coverage on the stock by announcing an initial rating of “Neutral”.
The company is now up since yesterday’s close of $27.20. The company recently announced a dividend that will be paid on Thursday the 30th of November 2017. The dividend payment will be $0.200 per share for the quarter which comes to $0.80 on an annualized basis. This dividend amount will represent a yield of $2.82. The ex-dividend date has been established as Friday the 11th of August 2017.
Shares of the company are trading at $27.20 just a bit higher than $26.71, the stock’s 50 day moving average and which is just over the 200 day moving average of $25.46. The 50 day moving average was up by +1.85% whereas the 200 day moving average was up $1.74 or +6.84%.
The P/E ratio is currently 18.76 and the market cap is 1.75B. As of the last earnings report the EPS was $1.45 and is projected to be $1.53 for the current year with 64,357,000 shares now outstanding. Analysts expect next quarter’s EPS to be $0.39 and the next full year EPS is projected to be $1.64.
Provident Financial Services Inc., launched on August 13, 2002, is a holding company 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 operations 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 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..