American Century Companies Inc. Grows Stock Position in Provident Financial Services, Inc. (NYSE:PFS)

American Century Companies Inc. lifted its position in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,456,401 shares of the savings and loans company's stock after purchasing an additional 81,617 shares during the quarter. American Century Companies Inc. owned approximately 1.88% of Provident Financial Services worth $46,352,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its stake in Provident Financial Services by 120.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company's stock valued at $28,000 after purchasing an additional 820 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Provident Financial Services during the 4th quarter valued at approximately $99,000. KBC Group NV lifted its position in Provident Financial Services by 40.7% during the 4th quarter. KBC Group NV now owns 6,387 shares of the savings and loans company's stock worth $121,000 after acquiring an additional 1,848 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Provident Financial Services by 141.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 7,533 shares of the savings and loans company's stock valued at $142,000 after purchasing an additional 4,408 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Provident Financial Services by 35,936.4% in the fourth quarter. Allworth Financial LP now owns 7,928 shares of the savings and loans company's stock valued at $151,000 after purchasing an additional 7,906 shares during the period. Hedge funds and other institutional investors own 71.97% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PFS. Hovde Group started coverage on Provident Financial Services in a report on Friday, December 13th. They set an "outperform" rating and a $25.00 price target for the company. Royal Bank of Canada reduced their target price on shares of Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com upgraded shares of Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, February 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Provident Financial Services presently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Provident Financial Services Price Performance

Provident Financial Services stock traded down $0.02 during midday trading on Tuesday, reaching $17.16. The company's stock had a trading volume of 961,110 shares, compared to its average volume of 840,454. The firm has a market capitalization of $2.24 billion, a PE ratio of 16.34 and a beta of 1.06. Provident Financial Services, Inc. has a fifty-two week low of $13.07 and a fifty-two week high of $22.24. The stock's 50 day simple moving average is $18.00 and its 200 day simple moving average is $18.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.01.

Provident Financial Services (NYSE:PFS - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.13). Provident Financial Services had a net margin of 10.13% and a return on equity of 5.60%. On average, equities research analysts forecast that Provident Financial Services, Inc. will post 2.14 earnings per share for the current year.

Provident Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend was Friday, February 14th. Provident Financial Services's dividend payout ratio (DPR) is 91.43%.

About Provident Financial Services

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.