PFS Trading Below Director's Recent Buy Price

There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on September 12, Provident Financial Services Inc's Director, Thomas W. Berry, invested $16,330.00 into 1,000 shares of PFS, for a cost per share of $16.33. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

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In trading on Monday, bargain hunters could buy shares of Provident Financial Services Inc ( PFS) and achieve a cost basis even cheaper than Berry, with shares changing hands as low as $16.20 per share. It should be noted that Berry has collected $0.15/share in dividends since the time of their purchase, so they are currently up 0.1% on their purchase from a total return basis. Provident Financial Services Inc shares are currently trading down about 1.6% on the day. The chart below shows the one year performance of PFS shares, versus its 200 day moving average:

Provident Financial Services Inc Chart

Looking at the chart above, PFS's low point in its 52 week range is $14.41 per share, with $19.93 as the 52 week high point — that compares with a last trade of $16.22. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

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