Renaissance Technologies LLC Buys 105,209 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Renaissance Technologies LLC increased its stake in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 26.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 496,583 shares of the savings and loans company's stock after buying an additional 105,209 shares during the period. Renaissance Technologies LLC owned 0.38% of Provident Financial Services worth $9,371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFS. Federated Hermes Inc. purchased a new position in shares of Provident Financial Services during the fourth quarter worth approximately $55,000. Steward Partners Investment Advisory LLC purchased a new position in Provident Financial Services during the 4th quarter worth $99,000. KBC Group NV increased its holdings in Provident Financial Services by 40.7% during the 4th quarter. KBC Group NV now owns 6,387 shares of the savings and loans company's stock worth $121,000 after purchasing an additional 1,848 shares during the period. Smartleaf Asset Management LLC raised its position in Provident Financial Services by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,533 shares of the savings and loans company's stock valued at $142,000 after purchasing an additional 4,408 shares in the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Provident Financial Services by 35,936.4% in the 4th quarter. Allworth Financial LP now owns 7,928 shares of the savings and loans company's stock worth $151,000 after buying an additional 7,906 shares during the period. Institutional investors own 71.97% of the company's stock.

Provident Financial Services Trading Up 1.6 %

Shares of NYSE PFS opened at $15.48 on Friday. The business has a fifty day moving average price of $17.03 and a 200 day moving average price of $18.66. Provident Financial Services, Inc. has a 1-year low of $13.07 and a 1-year high of $22.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $2.02 billion, a P/E ratio of 14.74 and a beta of 0.84.

Provident Financial Services (NYSE:PFS - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share 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%. Equities research analysts expect that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.

Provident Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 6.20%. The ex-dividend date was Friday, February 14th. Provident Financial Services's dividend payout ratio is currently 91.43%.

Analysts Set New Price Targets

Several analysts recently weighed in on PFS shares. StockNews.com upgraded Provident Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, February 15th. Royal Bank of Canada lowered their price target on shares of 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Provident Financial Services has a consensus rating of "Moderate Buy" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.