Principal Financial Group Inc. Has $11.94 Million Stock Holdings in Provident Financial Services, Inc. (NYSE:PFS)

Principal Financial Group Inc. lifted its stake in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 632,544 shares of the savings and loans company's stock after purchasing an additional 17,749 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Provident Financial Services worth $11,936,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Savant Capital LLC lifted its stake in shares of Provident Financial Services by 6.5% in the 4th quarter. Savant Capital LLC now owns 10,931 shares of the savings and loans company's stock worth $206,000 after acquiring an additional 664 shares during the period. Glenmede Trust Co. NA raised its position in Provident Financial Services by 5.1% in the third quarter. Glenmede Trust Co. NA now owns 16,672 shares of the savings and loans company's stock worth $309,000 after acquiring an additional 802 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Provident Financial Services by 120.6% during the 3rd 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 in the last quarter. D.A. Davidson & CO. grew its stake in shares of Provident Financial Services by 3.3% in the 3rd quarter. D.A. Davidson & CO. now owns 29,402 shares of the savings and loans company's stock worth $546,000 after purchasing an additional 944 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Provident Financial Services by 0.3% in the 4th quarter. Rhumbline Advisers now owns 392,600 shares of the savings and loans company's stock worth $7,408,000 after purchasing an additional 1,158 shares in the last quarter. Institutional investors and hedge funds own 71.97% of the company's stock.

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Provident Financial Services Stock Down 0.4 %

Shares of NYSE PFS traded down $0.08 during trading hours on Monday, hitting $18.17. The stock had a trading volume of 356,710 shares, compared to its average volume of 586,293. The company has a market capitalization of $2.37 billion, a P/E ratio of 17.31 and a beta of 1.07. The firm's 50-day moving average price is $18.77 and its two-hundred day moving average price is $19.17. 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, Inc. has a 52 week low of $13.07 and a 52 week high of $22.24.

Provident Financial Services (NYSE:PFS - Get Free Report) last announced its quarterly earnings results 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 return on equity of 5.60% and a net margin of 10.13%. Analysts anticipate that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.

Provident Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.24 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.28%. Provident Financial Services's dividend payout ratio is currently 91.43%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PFS. DA Davidson increased their price objective on Provident Financial Services from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Hovde Group started coverage on shares of Provident Financial Services in a research note on Friday, December 13th. They issued an "outperform" rating and a $25.00 price objective for the company. StockNews.com upgraded Provident Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. Finally, Royal Bank of Canada dropped their target price on Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Provident Financial Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Insider Transactions at Provident Financial Services

In other Provident Financial Services news, EVP James A. Christy sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $20.88, for a total transaction of $73,080.00. Following the completion of the sale, the executive vice president now owns 34,254 shares of the company's stock, valued at $715,223.52. This represents a 9.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.29% of the stock is currently owned by corporate insiders.

Provident Financial Services 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.