Provident Financial Services, Inc. (NYSE:PFS) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its position in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 54.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,433 shares of the savings and loans company's stock after acquiring an additional 55,964 shares during the quarter. Thrivent Financial for Lutherans owned 0.12% of Provident Financial Services worth $2,990,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC increased its position in Provident Financial Services by 39.8% during the 3rd quarter. Barclays PLC now owns 316,953 shares of the savings and loans company's stock valued at $5,883,000 after purchasing an additional 90,238 shares during the period. Geode Capital Management LLC increased its holdings in Provident Financial Services by 1.9% during the third quarter. Geode Capital Management LLC now owns 2,947,394 shares of the savings and loans company's stock valued at $54,715,000 after buying an additional 53,943 shares during the period. Proficio Capital Partners LLC bought a new position in Provident Financial Services in the fourth quarter worth approximately $513,000. Charles Schwab Investment Management Inc. lifted its holdings in Provident Financial Services by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,825,993 shares of the savings and loans company's stock worth $34,456,000 after buying an additional 33,201 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Provident Financial Services during the fourth quarter worth $5,026,000. 71.97% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PFS shares. Royal Bank of Canada reduced their price target on 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. StockNews.com raised shares of Provident Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. Finally, Hovde Group started coverage on shares of Provident Financial Services in a research report on Friday, December 13th. They issued an "outperform" rating and a $25.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.00.

Provident Financial Services Stock Down 1.9 %

NYSE:PFS traded down $0.33 during mid-day trading on Friday, hitting $17.07. 326,102 shares of the company's stock traded hands, compared to its average volume of 839,688. The company has a fifty day moving average of $18.09 and a 200 day moving average of $18.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.01. Provident Financial Services, Inc. has a twelve month low of $13.07 and a twelve month high of $22.24. The company has a market capitalization of $2.23 billion, a P/E ratio of 16.25 and a beta of 1.06.

Provident Financial Services (NYSE:PFS - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 forecast that Provident Financial Services, Inc. will post 2.14 EPS for the current year.

Provident Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend was Friday, February 14th. Provident Financial Services's payout ratio is 91.43%.

Provident Financial Services 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.