Wolverine Asset Management LLC Purchases 36,596 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Wolverine Asset Management LLC lifted its stake in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 105.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,280 shares of the savings and loans company's stock after buying an additional 36,596 shares during the period. Wolverine Asset Management LLC owned about 0.05% of Provident Financial Services worth $1,345,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Savant Capital LLC boosted its position in Provident Financial Services by 6.5% in the fourth quarter. Savant Capital LLC now owns 10,931 shares of the savings and loans company's stock valued at $206,000 after buying an additional 664 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Provident Financial Services by 6.1% in the 4th quarter. CIBC Asset Management Inc now owns 13,422 shares of the savings and loans company's stock worth $253,000 after acquiring an additional 772 shares in the last quarter. Glenmede Trust Co. NA grew its position in Provident Financial Services by 5.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 16,672 shares of the savings and loans company's stock worth $309,000 after acquiring an additional 802 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Provident Financial Services by 120.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company's stock valued at $28,000 after purchasing an additional 820 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in Provident Financial Services by 3.3% in the 3rd quarter. D.A. Davidson & CO. now owns 29,402 shares of the savings and loans company's stock valued at $546,000 after purchasing an additional 944 shares during the last quarter. Institutional investors own 71.97% of the company's stock.

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Insider Buying and Selling at Provident Financial Services

In related news, EVP James A. Christy sold 3,500 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $20.88, for a total transaction of $73,080.00. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PFS shares. DA Davidson boosted their target price on shares of Provident Financial Services from $24.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. StockNews.com upgraded 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 cut their target price on Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Thursday, January 30th. Finally, Hovde Group initiated coverage on Provident Financial Services in a research report on Friday, December 13th. They set an "outperform" rating and a $25.00 target price for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Provident Financial Services Stock Down 0.1 %

Shares of Provident Financial Services stock traded down $0.01 during trading on Wednesday, reaching $17.94. The stock had a trading volume of 417,306 shares, compared to its average volume of 592,111. 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 $2.34 billion, a price-to-earnings ratio of 17.09 and a beta of 1.07. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $22.24. The stock has a fifty day moving average price of $18.82 and a two-hundred day moving average price of $19.15.

Provident Financial Services (NYSE:PFS - Get Free Report) last issued its quarterly 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 return on equity of 5.60% and a net margin of 10.13%. Sell-side analysts predict that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend is Friday, February 14th. Provident Financial Services's dividend payout ratio (DPR) is currently 91.43%.

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.