Swiss National Bank Acquires 2,200 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Swiss National Bank lifted its holdings in Provident Financial Services, Inc. (NYSE:PFS) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,729 shares of the savings and loans company’s stock after purchasing an additional 2,200 shares during the quarter. Swiss National Bank owned 0.19% of Provident Financial Services worth $4,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Savant Capital LLC lifted its stake in Provident Financial Services by 6.5% during the 4th quarter. Savant Capital LLC now owns 10,931 shares of the savings and loans company’s stock valued at $206,000 after acquiring an additional 664 shares during the period. CIBC Asset Management Inc lifted its position in Provident Financial Services by 6.1% during the fourth quarter. CIBC Asset Management Inc now owns 13,422 shares of the savings and loans company’s stock valued at $253,000 after purchasing an additional 772 shares during the period. Glenmede Trust Co. NA boosted its holdings in Provident Financial Services by 5.1% in the third quarter. Glenmede Trust Co. NA now owns 16,672 shares of the savings and loans company’s stock worth $309,000 after purchasing an additional 802 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Provident Financial Services by 120.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock worth $28,000 after purchasing an additional 820 shares during the period. Finally, Avantax Advisory Services Inc. grew its position in Provident Financial Services by 7.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,084 shares of the savings and loans company’s stock worth $228,000 after purchasing an additional 839 shares during the period. 71.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Hovde Group began coverage on Provident Financial Services in a research note on Friday, December 13th. They issued an “outperform” rating and a $25.00 price target on the stock. StockNews.com raised Provident Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Finally, Royal Bank of Canada cut their price target on Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. One investment 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 stock has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Provident Financial Services Price Performance

Shares of Provident Financial Services stock opened at $17.41 on Tuesday. The stock has a market cap of $2.27 billion, a P/E ratio of 16.58 and a beta of 1.06. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s fifty day moving average is $18.24 and its 200 day moving average is $19.01. Provident Financial Services, Inc. has a one year low of $13.07 and a one year high of $22.24.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.37 EPS 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 anticipate that Provident Financial Services, Inc. will post 2.14 earnings per share for the current year.

Provident Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.24 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.51%. Provident Financial Services’s payout ratio 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.