Victory Capital Management Inc. Has $2.90 Million Stock Position in Provident Financial Services, Inc. (NYSE:PFS)

Victory Capital Management Inc. boosted its stake in shares of Provident Financial Services, Inc. (NYSE:PFS) by 477.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 156,240 shares of the savings and loans company’s stock after buying an additional 129,183 shares during the period. Victory Capital Management Inc. owned approximately 0.12% of Provident Financial Services worth $2,900,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Signaturefd LLC boosted its position in Provident Financial Services by 991.2% during the second quarter. Signaturefd LLC now owns 1,855 shares of the savings and loans company’s stock worth $27,000 after purchasing an additional 1,685 shares during the period. Rise Advisors LLC acquired a new position in Provident Financial Services in the second quarter valued at about $29,000. Nisa Investment Advisors LLC raised its stake in Provident Financial Services by 43.0% during the second 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 in the last quarter. EntryPoint Capital LLC acquired a new position in Provident Financial Services during the first quarter worth about $76,000. Finally, International Assets Investment Management LLC raised its stake in 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 acquiring an additional 7,457 shares in the last quarter. 71.97% of the stock is currently owned by institutional investors and hedge funds.

Provident Financial Services Stock Performance

Shares of PFS opened at $21.40 on Friday. The firm has a market cap of $2.79 billion, a PE ratio of 20.58 and a beta of 1.03. The stock’s fifty day moving average price is $19.36 and its two-hundred day moving average price is $17.31. 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, Inc. has a 1 year low of $13.07 and a 1 year high of $22.23.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.11). The firm had revenue of $349.38 million during the quarter, compared to the consensus estimate 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 firm earned $0.38 earnings per share. On average, equities research analysts forecast that Provident Financial Services, Inc. will post 1.84 EPS for the current 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 given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Friday, November 15th. Provident Financial Services’s dividend payout ratio (DPR) is presently 92.31%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PFS shares. DA Davidson upped their price objective 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. StockNews.com cut Provident Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Royal Bank of Canada increased their price target on Provident Financial Services from $18.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised Provident Financial Services from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $20.00 to $21.00 in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to data from MarketBeat, Provident Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

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.