Hsbc Holdings PLC Has $31.93 Million Stock Position in Provident Financial Services, Inc. (NYSE:PFS)

Hsbc Holdings PLC lifted its stake in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,692,001 shares of the savings and loans company's stock after acquiring an additional 109,923 shares during the period. Hsbc Holdings PLC owned approximately 1.30% of Provident Financial Services worth $31,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PFS. Savant Capital LLC boosted its position in Provident Financial Services by 6.5% during the fourth quarter. Savant Capital LLC now owns 10,931 shares of the savings and loans company's stock valued at $206,000 after purchasing an additional 664 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Provident Financial Services by 5.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,240 shares of the savings and loans company's stock valued at $269,000 after buying an additional 704 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in Provident Financial Services by 5.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 13,172 shares of the savings and loans company's stock worth $249,000 after buying an additional 714 shares during the last quarter. Foundry Partners LLC raised its position in Provident Financial Services by 0.4% during the fourth quarter. Foundry Partners LLC now owns 191,748 shares of the savings and loans company's stock worth $3,618,000 after acquiring an additional 730 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Provident Financial Services by 6.1% in the fourth quarter. CIBC Asset Management Inc now owns 13,422 shares of the savings and loans company's stock valued at $253,000 after acquiring an additional 772 shares during the last quarter. Institutional investors and hedge funds own 71.97% of the company's stock.

Provident Financial Services Stock Performance

PFS stock traded up $0.13 during trading hours on Tuesday, hitting $16.66. 538,766 shares of the stock were exchanged, compared to its average volume of 841,177. Provident Financial Services, Inc. has a 12 month low of $13.07 and a 12 month high of $22.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $2.17 billion, a P/E ratio of 15.87 and a beta of 0.84. The company has a 50-day simple moving average of $16.67 and a two-hundred day simple moving average of $18.58.

Provident Financial Services (NYSE:PFS - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Provident Financial Services had a net margin of 10.13% and a return on equity of 5.60%. The business had revenue of $208.76 million during the quarter, compared to analysts' expectations of $206.86 million. During the same quarter in the previous year, the company earned $0.43 EPS. The business's revenue was up 82.4% on a year-over-year basis. On average, analysts forecast that Provident Financial Services, Inc. will post 2.14 earnings per share for the current fiscal year.

Provident Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.24 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.96 annualized dividend and a yield of 5.76%. Provident Financial Services's dividend payout ratio is presently 86.49%.

Wall Street Analyst Weigh In

PFS has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Provident Financial Services from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday. StockNews.com upgraded Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, February 15th. Finally, Royal Bank of Canada cut their price target on Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $24.25.

Provident Financial Services Company Profile

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.