Provident Finl Services saw a positive improvement to its Relative Strength (RS) Rating on Tuesday, with an upgrade from 67 to 75.
This exclusive rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
Decades of market research reveals that the stocks that go on to make the biggest gains typically have an 80 or better RS Rating in the early stages of their moves. See if Provident Finl Services can continue to rebound and hit that benchmark.
How To Invest In Stocks In Both Bull And Bear Markets
Provident Finl Services broke out earlier, but has fallen back below the prior 19.59 entry from a flat base. If a stock you're tracking clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and entry price. Also understand that the latest consolidation is a later-stage base, and those involve more risk.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 0%, compared to -20% in the prior report. Revenue increased from -12% to 38%. Keep an eye out for the company's next round of numbers on or around Oct. 29.
Provident Finl Services holds the No. 44 rank among its peers in the Banks-Northeast industry group. Amalgamated Financial, Ponce Financial Group and Orrstown Financial are among the top 5 highly rated stocks within the group.
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