Quantbot Technologies LP decreased its holdings in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 94.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,043 shares of the savings and loans company's stock after selling 67,442 shares during the period. Quantbot Technologies LP's holdings in Provident Financial Services were worth $75,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of PFS. Signaturefd LLC lifted its holdings in Provident Financial Services by 991.2% during the 2nd quarter. Signaturefd LLC now owns 1,855 shares of the savings and loans company's stock worth $27,000 after purchasing an additional 1,685 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Provident Financial Services by 43.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,050 shares of the savings and loans company's stock valued at $58,000 after acquiring an additional 1,218 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Provident Financial Services by 1,779.7% during the 3rd quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company's stock worth $146,000 after acquiring an additional 7,457 shares during the period. Haverford Trust Co bought a new position in Provident Financial Services in the 3rd quarter valued at $187,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Provident Financial Services during the 2nd quarter valued at $163,000. Institutional investors own 71.97% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on PFS. StockNews.com raised Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Thursday, November 28th. Keefe, Bruyette & Woods upgraded Provident Financial Services from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $20.00 to $21.00 in a research report on Thursday, August 15th. Finally, DA Davidson upped their price objective on shares of Provident Financial Services from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.00.
Get Our Latest Analysis on PFS
Provident Financial Services Price Performance
Shares of PFS stock traded up $0.14 during trading hours on Friday, hitting $20.76. 334,370 shares of the company's stock were exchanged, compared to its average volume of 574,798. The company has a market capitalization of $2.71 billion, a PE ratio of 19.96 and a beta of 1.06. The business's 50 day simple moving average is $19.85 and its 200-day simple moving average is $17.67. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.02. Provident Financial Services, Inc. has a 12-month low of $13.07 and a 12-month high of $22.24.
Provident Financial Services (NYSE:PFS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.11). Provident Financial Services had a return on equity of 5.21% and a net margin of 9.55%. The company had revenue of $349.38 million for the quarter, compared to the consensus estimate of $211.25 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, equities research analysts anticipate that Provident Financial Services, Inc. will post 1.84 earnings per share for the current year.
Provident Financial Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Friday, November 15th. Provident Financial Services's dividend payout ratio (DPR) is 92.31%.
About Provident Financial Services
(
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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