Empowered Funds LLC Grows Stock Holdings in Provident Financial Services, Inc. (NYSE:PFS)

Empowered Funds LLC raised its position in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 264,933 shares of the savings and loans company's stock after purchasing an additional 13,188 shares during the quarter. Empowered Funds LLC owned 0.20% of Provident Financial Services worth $4,999,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of 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 worth $28,000 after buying an additional 820 shares during the last quarter. KBC Group NV boosted its stake in shares of Provident Financial Services by 40.7% in 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. International Assets Investment Management LLC boosted its stake in shares of Provident Financial Services by 1,779.7% in the third quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company's stock worth $146,000 after buying an additional 7,457 shares during the last quarter. Haverford Trust Co purchased a new stake in shares of Provident Financial Services in the third quarter worth about $187,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Provident Financial Services in the third quarter worth about $211,000. Hedge funds and other institutional investors own 71.97% of the company's stock.

Insider Activity at Provident Financial Services

In related news, EVP James A. Christy sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $20.88, for a total value 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 approximately $715,223.52. This trade represents a 9.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.29% of the company's stock.

Provident Financial Services Price Performance

Shares of Provident Financial Services stock traded down $0.31 during mid-day trading on Friday, reaching $18.62. 416,406 shares of the stock traded hands, compared to its average volume of 618,988. The business has a 50-day moving average of $19.12 and a 200 day moving average of $19.09. Provident Financial Services, Inc. has a fifty-two week low of $13.07 and a fifty-two week high of $22.24. The stock has a market capitalization of $2.43 billion, a PE ratio of 17.74 and a beta of 1.07. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.95.

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 analysts' consensus estimates 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, analysts predict that Provident Financial Services, Inc. will post 2.14 EPS for the current year.

Provident Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.15%. Provident Financial Services's payout ratio is currently 91.43%.

Wall Street Analyst Weigh In

PFS has been the topic of a number of recent research reports. Hovde Group initiated coverage on Provident Financial Services in a research note on Friday, December 13th. They issued an "outperform" rating and a $25.00 target price on the stock. StockNews.com upgraded Provident Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday. DA Davidson increased their price target on Provident Financial Services from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada lowered their price target on Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating on the stock in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.00.

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.