Provident Financial Services, Inc. (NYSE:PFS) Position Increased by Allworth Financial LP

Allworth Financial LP increased its position in shares of Provident Financial Services, Inc. (NYSE:PFS) by 35,936.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,928 shares of the savings and loans company’s stock after acquiring an additional 7,906 shares during the period. Allworth Financial LP’s holdings in Provident Financial Services were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Provident Financial Services by 120.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock worth $28,000 after acquiring an additional 820 shares in the last quarter. KBC Group NV raised its holdings 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 acquiring an additional 1,848 shares in the last quarter. International Assets Investment Management LLC raised its holdings 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 acquiring an additional 7,457 shares in the last quarter. Haverford Trust Co purchased a new stake in shares of Provident Financial Services during the third quarter worth $187,000. Finally, Savant Capital LLC raised its holdings in shares of Provident Financial Services by 6.5% during the fourth quarter. Savant Capital LLC now owns 10,931 shares of the savings and loans company’s stock worth $206,000 after acquiring an additional 664 shares in the last quarter. 71.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

PFS has been the topic of several recent research reports. DA Davidson raised their target price on Provident Financial Services from $24.00 to $27.00 and gave the company a “buy” rating in a report on Friday, November 15th. Hovde Group initiated coverage on Provident Financial Services in a report on Friday, December 13th. They set an “outperform” rating and a $25.00 target price on the stock. StockNews.com upgraded 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 target price on Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Provident Financial Services Trading Down 1.1 %

Shares of NYSE:PFS opened at $18.11 on Monday. The company has a market cap of $2.36 billion, a P/E ratio of 17.24 and a beta of 1.07. The stock’s 50-day moving average is $18.92 and its 200-day moving average is $19.14. Provident Financial Services, Inc. has a 52-week low of $13.07 and a 52-week high of $22.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.01.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.30%. The ex-dividend date is Friday, February 14th. Provident Financial Services’s dividend payout ratio is currently 91.43%.

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.