Versor Investments LP bought a new position in Provident Financial Services, Inc. (NYSE:PFS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 29,900 shares of the savings and loans company's stock, valued at approximately $564,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Provident Financial Services during the third quarter valued at approximately $435,000. International Assets Investment Management LLC increased its stake in Provident Financial Services by 1,779.7% in the third quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company's stock worth $146,000 after purchasing an additional 7,457 shares during the period. US Bancorp DE lifted its position in shares of Provident Financial Services by 3,201.7% during the third quarter. US Bancorp DE now owns 19,051 shares of the savings and loans company's stock worth $354,000 after purchasing an additional 18,474 shares during the last quarter. Forum Financial Management LP purchased a new stake in shares of Provident Financial Services during the third quarter valued at $217,000. Finally, Chartwell Investment Partners LLC bought a new stake in Provident Financial Services during the 3rd quarter valued at about $5,564,000. 71.97% of the stock is currently owned by institutional investors.
Provident Financial Services Stock Down 0.8 %
Shares of PFS traded down $0.14 during trading hours on Wednesday, hitting $17.62. The company had a trading volume of 430,941 shares, compared to its average volume of 794,744. The company's fifty day moving average price is $18.69 and its two-hundred day moving average price is $19.16. Provident Financial Services, Inc. has a one year low of $13.07 and a one year high of $22.24. 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 company has a market capitalization of $2.30 billion, a PE ratio of 16.78 and a beta of 1.07.
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%. As a group, equities analysts forecast that Provident Financial Services, Inc. will post 2.14 earnings per share for the current fiscal year.
Provident Financial Services Dividend Announcement
The firm 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 5.45%. The ex-dividend date of this dividend was Friday, February 14th. Provident Financial Services's dividend payout ratio is presently 91.43%.
Insider Transactions at Provident Financial Services
In other Provident Financial Services news, EVP James A. Christy sold 3,500 shares of Provident Financial Services stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $20.88, for a total transaction of $73,080.00. Following the completion of the sale, the executive vice president now owns 34,254 shares of the company's stock, valued at approximately $715,223.52. The trade was a 9.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.29% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on PFS shares. StockNews.com raised shares of Provident Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. Royal Bank of Canada lowered their target price on Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. DA Davidson lifted 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, November 15th. Finally, Hovde Group initiated coverage on shares of Provident Financial Services in a research note on Friday, December 13th. They issued an "outperform" rating and a $25.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.00.
Get Our Latest Analysis on PFS
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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