Collective Family Office LLC Has $573,000 Position in Provident Financial Services, Inc. (NYSE:PFS)

Collective Family Office LLC decreased its position in Provident Financial Services, Inc. (NYSE:PFS) by 18.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 30,358 shares of the savings and loans company’s stock after selling 6,960 shares during the quarter. Collective Family Office LLC’s holdings in Provident Financial Services were worth $573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its position 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 period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Provident Financial Services by 120.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock valued at $28,000 after buying an additional 820 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Provident Financial Services by 3.3% during the third quarter. D.A. Davidson & CO. now owns 29,402 shares of the savings and loans company’s stock worth $546,000 after acquiring an additional 944 shares during the period. Aigen Investment Management LP boosted its stake in Provident Financial Services by 6.5% in the 3rd quarter. Aigen Investment Management LP now owns 20,616 shares of the savings and loans company’s stock worth $383,000 after purchasing an additional 1,257 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in Provident Financial Services by 9.3% during the 3rd quarter. Quantinno Capital Management LP now owns 23,042 shares of the savings and loans company’s stock worth $428,000 after purchasing an additional 1,954 shares in the last quarter. 71.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP James A. Christy sold 3,500 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $20.88, for a total value of $73,080.00. Following the completion of the sale, the executive vice president now directly owns 34,254 shares in the company, valued at $715,223.52. This represents a 9.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.29% of the stock is owned by corporate insiders.

Provident Financial Services Stock Performance

Shares of NYSE:PFS traded down $0.06 during trading on Wednesday, reaching $18.42. 72,509 shares of the stock were exchanged, compared to its average volume of 416,513. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average price of $20.16 and a 200-day moving average price of $18.54. Provident Financial Services, Inc. has a 12 month low of $13.07 and a 12 month high of $22.24. The firm has a market cap of $2.40 billion, a PE ratio of 17.71 and a beta of 1.08.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.11). The company had revenue of $349.38 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $0.38 earnings per share. Research analysts expect that Provident Financial Services, Inc. will post 1.84 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.21%. The ex-dividend date was Friday, November 15th. Provident Financial Services’s dividend payout ratio is currently 92.31%.

Analysts Set New Price Targets

PFS has been the subject of several research reports. StockNews.com raised shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Hovde Group started coverage on shares of Provident Financial Services in a report on Friday, December 13th. They issued an “outperform” rating and a $25.00 target price on the stock. Finally, DA Davidson lifted their price target on Provident Financial Services from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

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.