Market Overview

Sterne Agee Reiterates Buy Rating, $15 PT on Provident Financial Services

Related PFS
Earnings Scheduled For January 30, 2015
Barron's Recap: The New American Express
Seeking Alpha's Biotech Weekly: J&J-Achillion Vs. Gilead, MannKind's Marketing, And More (Seeking Alpha)

In a report published Wednesday, Sterne Agee Group reiterated its Buy rating and $15.00 price target on Provident Financial Services (NYSE: PFS).

Sterne Agee noted, “We added the repurchase of 2.6 mil. shares (4.2% of total) through year end 2014 to our model. This resulted in a $0.02 p/s increase to our 2014 estimate. While we expect profitability will be negatively impacted near-term by Hurricane Sandy, the company is expected to generate solid returns for full year 2013 and 2014 (9-10% ROEs).”

Provident Financial Services closed on Monday at $14.78.

Latest Ratings for PFS

Mar 2015Boenning & ScattergoodDowngradesOutperformNeutral
Feb 2014Boenning & ScattergoodUpgradesNeutralOutperform
Oct 2013Boenning & ScattergoodDowngradesOutperformNeutral

View More Analyst Ratings for PFS
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Reiteration Analyst Ratings


Related Articles (PFS)

Around the Web, We're Loving...

Get Benzinga's Newsletters