The Provident Financial Services Inc. (PFS) shares are trading at lower $13.65 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $16.40.
To add more color to this target, the company’s high over the last year is $25.86 and the low is $9.05. Over the last 52 weeks, PFS is down -47.22% while the S&P 500 is up 0.79%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, PFS reported a profit of $72.02 million. Provident Financial Services Inc. also saw revenues increase to $88.17 million. In addition, PFS has free cash flow of $31.69 million as of 03-2020.
PFS booked profit margins of 30.70%, its Return on Equity (ROE) is 8.00%, and its Return on Assets is 1.10%. All told, it is clear that, PFS needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. PFS has a short ratio of 4.06 and outstanding shares of 64.39M.
PFS has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.81 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 1.50. Investors should also keep an eye on sector updates as PFS has historically followed its peers on positive news.
All told, Provident Financial Services Inc. PFS has strung together solid data and demonstrated underlying fundamentals. At its current valuation, PFS represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Provident Financial Services Inc. PFS is now commanding a market cap of 944.44M and a float of 60.64M. PFS is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of PFS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in PFS, either long or short, and we have not been compensated for this article.