Public Sector Pension Investment Board Has $5.14 Million Stock Position in Provident Financial Services, Inc. (NYSE:PFS)

Public Sector Pension Investment Board lowered its position in shares of Provident Financial Services, Inc. (NYSE:PFS) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 276,878 shares of the savings and loans company’s stock after selling 10,300 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of Provident Financial Services worth $5,139,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Provident Financial Services by 991.2% in the second quarter. Signaturefd LLC now owns 1,855 shares of the savings and loans company’s stock valued at $27,000 after purchasing an additional 1,685 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Provident Financial Services by 43.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,050 shares of the savings and loans company’s stock worth $58,000 after acquiring an additional 1,218 shares during the period. International Assets Investment Management LLC grew its stake in Provident Financial Services by 1,779.7% during the 3rd quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company’s stock valued at $146,000 after acquiring an additional 7,457 shares in the last quarter. Haverford Trust Co purchased a new position in Provident Financial Services during the 3rd quarter valued at about $187,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Provident Financial Services in the 2nd quarter valued at about $163,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.

Wall Street Analysts Forecast Growth

PFS has been the topic of several research reports. Keefe, Bruyette & Woods upgraded shares of Provident Financial Services from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $20.00 to $21.00 in a research note on Thursday, August 15th. StockNews.com raised shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, DA Davidson boosted their target price on Provident Financial Services from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Provident Financial Services Price Performance

Shares of NYSE:PFS opened at $21.12 on Monday. The stock has a market capitalization of $2.76 billion, a P/E ratio of 20.31 and a beta of 1.03. The business has a 50-day moving average of $19.61 and a two-hundred day moving average of $17.52. Provident Financial Services, Inc. has a fifty-two week low of $13.07 and a fifty-two week high of $22.24. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.03.

Provident Financial Services (NYSE:PFS) last posted its earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The firm had revenue of $349.38 million during the quarter, compared to analyst estimates of $211.25 million. Provident Financial Services had a net margin of 9.55% and a return on equity of 5.21%. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, equities research analysts predict that Provident Financial Services, Inc. will post 1.84 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a dividend of $0.24 per share. The ex-dividend date was Friday, November 15th. This represents a $0.96 annualized dividend and a dividend yield of 4.55%. Provident Financial Services’s dividend payout ratio is presently 92.31%.

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.