Systematic Financial Management LP Boosts Stock Position in Provident Financial Services, Inc. (NYSE:PFS)

Systematic Financial Management LP boosted its stake in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 11.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,888,623 shares of the savings and loans company's stock after buying an additional 198,468 shares during the period. Provident Financial Services accounts for approximately 0.9% of Systematic Financial Management LP's portfolio, making the stock its 27th largest position. Systematic Financial Management LP owned 1.45% of Provident Financial Services worth $35,053,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Signaturefd LLC grew its stake in shares of Provident Financial Services by 991.2% in the 2nd quarter. Signaturefd LLC now owns 1,855 shares of the savings and loans company's stock worth $27,000 after buying an additional 1,685 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Provident Financial Services by 43.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,050 shares of the savings and loans company's stock worth $58,000 after acquiring an additional 1,218 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Provident Financial Services by 1,779.7% during the third quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company's stock valued at $146,000 after acquiring an additional 7,457 shares in the last quarter. Haverford Trust Co purchased a new position in shares of Provident Financial Services in the 3rd quarter worth about $187,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Provident Financial Services in the 2nd quarter worth about $163,000. 71.97% of the stock is owned by institutional investors.

Provident Financial Services Stock Performance

Shares of NYSE PFS traded down $0.27 during midday trading on Thursday, hitting $20.69. 190,754 shares of the stock traded hands, compared to its average volume of 863,829. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03. Provident Financial Services, Inc. has a one year low of $13.07 and a one year high of $22.24. The firm has a market capitalization of $2.70 billion, a P/E ratio of 20.15 and a beta of 1.06. The firm has a 50-day moving average of $19.75 and a two-hundred day moving average of $17.61.

Provident Financial Services (NYSE:PFS - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.11). Provident Financial Services had a net margin of 9.55% and a return on equity of 5.21%. The firm had revenue of $349.38 million for the quarter, compared to the consensus estimate of $211.25 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. On average, equities analysts forecast that Provident Financial Services, Inc. will post 1.84 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.24 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.96 annualized dividend and a yield of 4.64%. Provident Financial Services's payout ratio is presently 92.31%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PFS shares. DA Davidson raised their price objective on shares of Provident Financial Services from $24.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, November 15th. StockNews.com upgraded shares of Provident Financial Services from a "sell" rating to a "hold" rating in a report on Thursday, November 28th. Finally, Keefe, Bruyette & Woods upgraded Provident Financial Services from a "market perform" rating to an "outperform" rating and increased their target price for the company from $20.00 to $21.00 in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.00.

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.