UPDATE: Stifel Nicolaus Downgrades Provident Financial Services to Hold


27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


Stifel Nicolaus lowers its rating on Provident Financial Services (NYSE: PFS) as it believes the company's performance improvement evidenced by 4Q11 report is now priced into the shares. Stifel Nicolaus says, "We are lowering our 2012 EPS estimates to $1.15 from $1.19, and we arelowering our 2013 EPS estimates to $1.31 from $1.36. The drop in our estimates, not surprisingly, is stemming from increased margin pressure as asset yields are expected to continue to fall, while funding cost reductions are somewhat more limited. Provident did however, indicate that loan momentum should pick up in 2012. However, even with our increased loan growth expectations (now 9% up from 6%), the growth isn't sufficient enough to offset margin pressure, leaving our net interest income projection to fall to $222 million in 2012 from $226 million previously."PFS closed at $14.22 a share on Friday.

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


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Posted In: Analyst ColorDowngradesIntraday UpdateAnalyst RatingsStifel Nicolaus