Vanguard Group Inc. Has $275.60 Million Holdings in Provident Financial Services, Inc. (NYSE:PFS)

Vanguard Group Inc. boosted its stake in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,605,199 shares of the savings and loans company's stock after buying an additional 51,253 shares during the quarter. Vanguard Group Inc. owned approximately 11.19% of Provident Financial Services worth $275,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. PL Capital Advisors LLC grew its position in Provident Financial Services by 1,787.0% in the fourth quarter. PL Capital Advisors LLC now owns 2,533,618 shares of the savings and loans company's stock worth $47,809,000 after acquiring an additional 2,399,351 shares in the last quarter. Wellington Management Group LLP increased its position in Provident Financial Services by 13,182.2% during the third quarter. Wellington Management Group LLP now owns 1,854,596 shares of the savings and loans company's stock worth $34,421,000 after buying an additional 1,840,633 shares during the last quarter. State Street Corp raised its holdings in Provident Financial Services by 10.2% during the third quarter. State Street Corp now owns 7,683,467 shares of the savings and loans company's stock valued at $142,605,000 after buying an additional 713,688 shares in the last quarter. Raymond James Financial Inc. bought a new position in Provident Financial Services during the fourth quarter valued at about $6,994,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Provident Financial Services by 55.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 795,855 shares of the savings and loans company's stock worth $14,771,000 after acquiring an additional 283,879 shares in the last quarter. 71.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFS has been the topic of a number of recent analyst reports. Hovde Group initiated 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 target on the stock. Royal Bank of Canada cut their target price 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. Finally, StockNews.com raised Provident Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Provident Financial Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Provident Financial Services Stock Performance

NYSE:PFS traded up $0.93 during trading hours on Wednesday, hitting $15.91. 1,406,497 shares of the company traded hands, compared to its average volume of 848,604. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 15.15 and a beta of 0.84. The firm has a 50-day moving average of $17.50 and a 200 day moving average of $18.80. Provident Financial Services, Inc. has a twelve month low of $13.07 and a twelve month high of $22.24.

Provident Financial Services (NYSE:PFS - Get Free Report) last released its earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share 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 given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date was Friday, February 14th. Provident Financial Services's dividend payout ratio is presently 91.43%.

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.