Provident Financial Services, Inc. (NYSE:PFS) Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC lowered its stake in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 16.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the savings and loans company's stock after selling 50,000 shares during the period. Curi RMB Capital LLC owned approximately 0.19% of Provident Financial Services worth $4,640,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Haverford Trust Co acquired a new stake in Provident Financial Services in the third quarter worth about $187,000. Victory Capital Management Inc. raised its holdings in shares of Provident Financial Services by 477.4% during the third quarter. Victory Capital Management Inc. now owns 156,240 shares of the savings and loans company's stock worth $2,900,000 after acquiring an additional 129,183 shares during the period. Aigen Investment Management LP lifted its holdings in shares of Provident Financial Services by 6.5% in the third quarter. Aigen Investment Management LP now owns 20,616 shares of the savings and loans company's stock valued at $383,000 after purchasing an additional 1,257 shares in the last quarter. Chartwell Investment Partners LLC acquired a new position in Provident Financial Services during the 3rd quarter worth approximately $5,564,000. Finally, Forum Financial Management LP bought a new stake in Provident Financial Services during the third quarter worth about $217,000. Institutional investors own 71.97% of the company's stock.

Provident Financial Services Price Performance

Provident Financial Services stock traded up $0.22 during midday trading on Friday, reaching $21.40. 637,624 shares of the stock traded hands, compared to its average volume of 884,330. The stock has a market cap of $2.79 billion, a P/E ratio of 20.58 and a beta of 1.03. Provident Financial Services, Inc. has a 12 month low of $13.07 and a 12 month high of $22.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.02. The stock's fifty day moving average is $18.99 and its 200-day moving average is $17.06.

Provident Financial Services (NYSE:PFS - Get Free Report) last announced 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 company had revenue of $349.38 million during the quarter, compared to analysts' expectations of $211.25 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. As a group, equities research analysts anticipate that Provident Financial Services, Inc. will post 1.84 EPS for the current year.

Provident Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Friday, November 15th. Provident Financial Services's dividend payout ratio (DPR) is currently 92.31%.

Insider Activity

In related news, EVP Vito Giannola sold 5,499 shares of the firm's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $18.09, for a total transaction of $99,476.91. Following the transaction, the executive vice president now owns 88,656 shares of the company's stock, valued at $1,603,787.04. This trade represents a 5.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.29% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com cut shares of Provident Financial Services from a "hold" rating to a "sell" rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised shares of Provident Financial Services from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $20.00 to $21.00 in a research note on Thursday, August 15th. DA Davidson boosted their price objective on Provident Financial Services from $24.00 to $27.00 and gave the company a "buy" rating in a report on Friday. Finally, Royal Bank of Canada raised their target price on Provident Financial Services from $18.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Provident Financial Services currently has an average rating of "Moderate Buy" and an average price target of $23.00.

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.