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 filing with the SEC. The firm bought 27,211 shares of the savings and loans company's stock, valued at approximately $513,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. PL Capital Advisors LLC boosted its holdings in shares of Provident Financial Services by 1,787.0% in the 4th quarter. PL Capital Advisors LLC now owns 2,533,618 shares of the savings and loans company's stock worth $47,809,000 after acquiring an additional 2,399,351 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Provident Financial Services by 13,182.2% during the third quarter. Wellington Management Group LLP now owns 1,854,596 shares of the savings and loans company's stock worth $34,421,000 after purchasing an additional 1,840,633 shares during the last quarter. State Street Corp increased its stake in shares of Provident Financial Services by 10.2% in the third quarter. State Street Corp now owns 7,683,467 shares of the savings and loans company's stock valued at $142,605,000 after buying an additional 713,688 shares in the last quarter. Basswood Capital Management L.L.C. raised its stake in shares of Provident Financial Services by 87.3% in the third quarter. Basswood Capital Management L.L.C. now owns 892,708 shares of the savings and loans company's stock worth $16,569,000 after acquiring an additional 416,020 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Provident Financial Services by 55.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 795,855 shares of the savings and loans company's stock worth $14,771,000 after buying an additional 283,879 shares in the last quarter. 71.97% of the stock is owned by institutional investors.
Provident Financial Services Stock Up 0.3 %
Shares of Provident Financial Services stock traded up $0.06 during trading on Thursday, reaching $17.40. The stock had a trading volume of 427,303 shares, compared to its average volume of 616,914. The stock has a fifty day moving average price of $18.17 and a two-hundred day moving average price of $18.99. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $22.24. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 16.57 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95.
Provident Financial Services (NYSE:PFS - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share 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%. Sell-side analysts predict that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.
Provident Financial Services Dividend Announcement
The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.52%. Provident Financial Services's dividend payout ratio is 91.43%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada dropped their target price on Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Thursday, January 30th. StockNews.com raised shares of Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, February 15th. Finally, Hovde Group initiated coverage on shares of Provident Financial Services in a research note on Friday, December 13th. They set an "outperform" rating and a $25.00 price target for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.
Read Our Latest Stock Report on PFS
Provident Financial Services Company Profile
(
Free Report)
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.
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