Provident Financial Services Rises On Unusually High Volume (PFS)

NEW YORK ( TheStreet) -- Provident Financial Services (NYSE: PFS) is trading at unusually high volume Friday with 1.9 million shares changing hands. It is currently at 5.3 times its average daily volume and trading up 49 cents (+3.9%) at $13.05 as of four p.m. ET.

Provident Financial Services has a market cap of $737.2 million and is part of the financial sector and banking industry. Shares are down 17% year to date as of the close of trading on Thursday.

Provident Financial Services, Inc. operates as the holding company for The Provident Bank that provides banking services to individuals, families, and businesses in New Jersey. The company has a P/E ratio of 13.3, above the average banking industry P/E ratio of 13.1 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Provident Financial Services as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, expanding profit margins, notable return on equity and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Provident Financial Services Ratings Report.

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