Proficio Capital Partners LLC Takes Position in Provident Financial Services, Inc. (NYSE:PFS)

Proficio Capital Partners LLC bought a new position in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 27,211 shares of the savings and loans company's stock, valued at approximately $513,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. grew its stake in shares of Provident Financial Services by 120.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company's stock worth $28,000 after purchasing an additional 820 shares during the period. KBC Group NV boosted its holdings in Provident Financial Services by 40.7% during the fourth quarter. KBC Group NV now owns 6,387 shares of the savings and loans company's stock worth $121,000 after buying an additional 1,848 shares during the last quarter. Allworth Financial LP grew its position in shares of Provident Financial Services by 35,936.4% during the 4th quarter. Allworth Financial LP now owns 7,928 shares of the savings and loans company's stock worth $151,000 after buying an additional 7,906 shares during the period. Haverford Trust Co bought a new stake in shares of Provident Financial Services in the 3rd quarter valued at about $187,000. Finally, Savant Capital LLC raised its position 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 valued at $206,000 after acquiring an additional 664 shares during the period. Institutional investors own 71.97% of the company's stock.

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Provident Financial Services Stock Up 0.3 %

PFS traded up $0.05 during trading on Thursday, hitting $16.66. The company had a trading volume of 301,485 shares, compared to its average volume of 795,054. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $2.17 billion, a PE ratio of 15.87 and a beta of 1.06. The firm's 50-day moving average price is $18.48 and its 200 day moving average price is $19.11. Provident Financial Services, Inc. has a one year low of $13.07 and a one year high of $22.24.

Provident Financial Services (NYSE:PFS - Get Free Report) last announced its 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%. As a group, equities analysts expect that Provident Financial Services, Inc. will post 2.14 earnings per share for the current year.

Provident Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date was Friday, February 14th. Provident Financial Services's dividend payout ratio is currently 91.43%.

Analysts Set New Price Targets

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

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.