Provident Financial Services Inc (PFS): Not A Time To Panic Nor Freeze

Provident Financial Services Inc (PFS) concluded trading on Wednesday at a closing price of $21.33, with 0.48 million shares of worth about $10.26 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 49.06% during that period and on November 27, 2024 the price saw a gain of about 0.19%. Currently the company’s common shares owned by public are about 123.37M shares, out of which, 115.96M shares are available for trading.

Stock saw a price change of 2.99% in past 5 days and over the past one month there was a price change of 11.09%. Year-to-date (YTD), PFS shares are showing a performance of 18.30% which increased to 42.11% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $13.07 but also hit the highest price of $22.24 during that period. The average intraday trading volume for Provident Financial Services Inc shares is 643.49K. The stock is currently trading 2.54% above its 20-day simple moving average (SMA20), while that difference is up 9.26% for SMA50 and it goes to 27.79% higher than SMA200.

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Provident Financial Services Inc (NYSE: PFS) currently have 123.37M outstanding shares and institutions hold larger chunk of about 72.28% of that.

The stock has a current market capitalization of $2.78B and its 3Y-monthly beta is at 1.05. PE ratio of stock for trailing 12 months is 20.60, while it has posted earnings per share of $1.04 in the same period. Its PEG reads 2.57 while making debt-to-equity ratio of 1.03. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PFS, volatility over the week remained 2.43% while standing at 2.62% over the month.

Stock’s fiscal year EPS is expected to rise by 9.36% while it is estimated to increase by 14.01% in next year. EPS is likely to grow at an annualized rate of 8.00% for next 5-years, compared to annual growth of -1.17% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Keefe Bruyette on August 15, 2024 offering an Outperform rating for the stock and assigned a target price range of between $20 and $21 to it. Coverage by DA Davidson stated Provident Financial Services Inc (PFS) stock as a Buy in their note to investors on April 22, 2024, suggesting a price target of $20 for the stock. On August 22, 2023, Piper Sandler Upgrade their recommendations, while on August 19, 2022, Piper Sandler Downgrade their ratings for the stock with a price target of $26. Stock get an Outperform rating from RBC Capital Mkts on March 05, 2021.

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