Yousif Capital Management LLC Sells 1,311 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Yousif Capital Management LLC cut its holdings in Provident Financial Services, Inc. (NYSE:PFS) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,348 shares of the savings and loans company’s stock after selling 1,311 shares during the period. Yousif Capital Management LLC’s holdings in Provident Financial Services were worth $931,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PFS. Wellington Management Group LLP boosted its holdings in Provident Financial Services by 13,182.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,854,596 shares of the savings and loans company’s stock valued at $34,421,000 after purchasing an additional 1,840,633 shares during the period. State Street Corp boosted its holdings in Provident Financial Services by 10.2% in the 3rd quarter. State Street Corp now owns 7,683,467 shares of the savings and loans company’s stock valued at $142,605,000 after purchasing an additional 713,688 shares during the period. Basswood Capital Management L.L.C. boosted its holdings in Provident Financial Services by 87.3% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 892,708 shares of the savings and loans company’s stock valued at $16,569,000 after purchasing an additional 416,020 shares during the period. Chartwell Investment Partners LLC bought a new position in Provident Financial Services in the 3rd quarter valued at $5,564,000. Finally, JPMorgan Chase & Co. boosted its holdings in Provident Financial Services by 55.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 795,855 shares of the savings and loans company’s stock valued at $14,771,000 after purchasing an additional 283,879 shares during the period. 71.97% of the stock is owned by institutional investors.

Insider Activity at Provident Financial Services

In other Provident Financial Services news, EVP James A. Christy sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $20.88, for a total value of $73,080.00. Following the transaction, the executive vice president now directly owns 34,254 shares in the company, valued at approximately $715,223.52. This trade 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 accessible through this hyperlink. 4.29% of the stock is owned by insiders.

Analysts Set New Price Targets

PFS has been the subject of a number of research analyst reports. StockNews.com raised shares of Provident Financial Services from a “sell” rating to a “hold” rating in a report on Saturday. Hovde Group assumed coverage on shares of Provident Financial Services in a report on Friday, December 13th. They set an “outperform” rating and a $25.00 price objective for the company. Royal Bank of Canada decreased their target price on shares of 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. Finally, DA Davidson lifted their target price on shares of Provident Financial Services from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Provident Financial Services currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Provident Financial Services Trading Down 1.6 %

Shares of PFS opened at $18.62 on Friday. The firm’s 50-day moving average price is $19.16 and its 200-day moving average price is $19.09. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 17.74 and a beta of 1.07. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. Provident Financial Services, Inc. has a 1-year low of $13.07 and a 1-year high of $22.24.

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 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%. Sell-side analysts anticipate that Provident Financial Services, Inc. will post 2.14 EPS for the current year.

Provident Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend is Friday, February 14th. Provident Financial Services’s payout ratio is 91.43%.

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.