Commonwealth Equity Services LLC Buys 828 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Commonwealth Equity Services LLC increased its stake in shares of Provident Financial Services, Inc. (NYSE:PFS) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,764 shares of the savings and loans company’s stock after buying an additional 828 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Provident Financial Services were worth $750,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Savant Capital LLC boosted its holdings 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 acquiring an additional 664 shares during the last quarter. CIBC Asset Management Inc lifted its position in Provident Financial Services by 6.1% during the 4th 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 grew its position in shares of 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 buying an additional 802 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of 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 worth $28,000 after buying an additional 820 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in shares of Provident Financial Services by 7.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 12,084 shares of the savings and loans company’s stock worth $228,000 after buying an additional 839 shares during the last quarter. Institutional investors and hedge funds own 71.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Provident Financial Services Price Performance

Shares of NYSE PFS opened at $17.60 on Thursday. 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 business’s 50 day moving average is $17.97 and its 200-day moving average is $18.96. Provident Financial Services, Inc. has a 1-year low of $13.07 and a 1-year high of $22.24. The firm has a market cap of $2.30 billion, a P/E ratio of 16.76 and a beta of 1.06.

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

Provident Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was 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.