Choreo LLC Sells 637 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Choreo LLC lessened its stake in shares of Provident Financial Services, Inc. (NYSE:PFS) by 5.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,152 shares of the savings and loans company’s stock after selling 637 shares during the period. Choreo LLC’s holdings in Provident Financial Services were worth $210,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Nomura Asset Management Co. Ltd. raised its stake in Provident Financial Services by 120.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock valued at $28,000 after buying an additional 820 shares during the period. KBC Group NV increased its stake in shares of Provident Financial Services by 40.7% during the fourth quarter. KBC Group NV now owns 6,387 shares of the savings and loans company’s stock worth $121,000 after purchasing an additional 1,848 shares during the period. International Assets Investment Management LLC increased its stake in shares of Provident Financial Services by 1,779.7% during 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. Haverford Trust Co bought a new position in shares of Provident Financial Services during the third quarter worth approximately $187,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Provident Financial Services during the third quarter worth approximately $211,000. Institutional investors own 71.97% of the company’s stock.

Insider Buying and Selling

In related news, EVP James A. Christy sold 3,500 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $20.88, for a total value of $73,080.00. Following the transaction, the executive vice president now owns 34,254 shares of the company’s stock, valued at $715,223.52. This represents a 9.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PFS has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price target on Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. 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 price target on the stock. DA Davidson increased their price target 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. Finally, StockNews.com raised Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Provident Financial Services Price Performance

Shares of NYSE PFS opened at $18.62 on Friday. Provident Financial Services, Inc. has a twelve month low of $13.07 and a twelve month high of $22.24. The stock’s 50 day moving average price is $19.12 and its 200-day moving average price is $19.09. The company has a market capitalization of $2.43 billion, a PE ratio of 17.74 and a beta of 1.07. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.95.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.13). Provident Financial Services had a return on equity of 5.60% and a net margin of 10.13%. On average, equities analysts anticipate that Provident Financial Services, Inc. will post 2.14 EPS for the current year.

Provident Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.15%. Provident Financial Services’s dividend payout ratio (DPR) is presently 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.