Provident Financial Services, Inc. (NYSE:PFS) Stock Position Decreased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Provident Financial Services, Inc. (NYSE:PFS) by 8.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,626 shares of the savings and loans company’s stock after selling 1,827 shares during the period. Mutual of America Capital Management LLC’s holdings in Provident Financial Services were worth $364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC increased its stake in shares of Provident Financial Services by 6.7% during the 3rd quarter. Empowered Funds LLC now owns 251,745 shares of the savings and loans company’s stock worth $4,672,000 after purchasing an additional 15,847 shares during the last quarter. Royce & Associates LP bought a new position in Provident Financial Services during the third quarter valued at about $766,000. Haverford Trust Co acquired a new stake in shares of Provident Financial Services in the third quarter worth about $187,000. Victory Capital Management Inc. boosted its stake in shares of Provident Financial Services by 477.4% during the 3rd quarter. Victory Capital Management Inc. now owns 156,240 shares of the savings and loans company’s stock worth $2,900,000 after acquiring an additional 129,183 shares in the last quarter. Finally, Aigen Investment Management LP increased its holdings in shares of Provident Financial Services by 6.5% during the 3rd quarter. Aigen Investment Management LP now owns 20,616 shares of the savings and loans company’s stock valued at $383,000 after acquiring an additional 1,257 shares during the last quarter. Institutional investors own 71.97% of the company’s stock.

Provident Financial Services Price Performance

NYSE:PFS opened at $21.33 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day moving average of $19.52 and a 200-day moving average of $17.44. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 20.51 and a beta of 1.03. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $22.24.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.11). Provident Financial Services had a return on equity of 5.21% and a net margin of 9.55%. The firm had revenue of $349.38 million for the quarter, compared to the consensus estimate of $211.25 million. During the same period in the prior year, the company posted $0.38 earnings per share. As a group, equities research analysts anticipate that Provident Financial Services, Inc. will post 1.84 earnings per share for the current fiscal year.

Provident Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date is Friday, November 15th. Provident Financial Services’s dividend payout ratio (DPR) is currently 92.31%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PFS. DA Davidson upped their target price on Provident Financial Services from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods upgraded shares of Provident Financial Services from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $20.00 to $21.00 in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.00.

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.