Allworth Financial LP Purchases 7,906 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Allworth Financial LP grew its position in Provident Financial Services, Inc. (NYSE:PFS) by 35,936.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,928 shares of the savings and loans company’s stock after buying an additional 7,906 shares during the quarter. Allworth Financial LP’s holdings in Provident Financial Services were worth $151,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its position in Provident Financial Services by 120.6% in 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 purchasing an additional 820 shares during the last quarter. KBC Group NV raised its position in Provident Financial Services by 40.7% in the 4th quarter. KBC Group NV now owns 6,387 shares of the savings and loans company’s stock worth $121,000 after purchasing an additional 1,848 shares during the last quarter. International Assets Investment Management LLC raised its position in Provident Financial Services by 1,779.7% in the 3rd quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company’s stock worth $146,000 after purchasing an additional 7,457 shares during the last quarter. Haverford Trust Co bought a new position in Provident Financial Services in the 3rd quarter worth approximately $187,000. Finally, Savant Capital LLC raised its position in Provident Financial Services by 6.5% in the 4th quarter. Savant Capital LLC now owns 10,931 shares of the savings and loans company’s stock worth $206,000 after purchasing an additional 664 shares during the last quarter. Institutional investors own 71.97% of the company’s stock.

Insider Activity

In other news, EVP James A. Christy sold 3,500 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 34,254 shares of the company’s stock, valued at $715,223.52. The trade was a 9.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on PFS shares. Hovde Group started coverage on shares of Provident Financial Services in a research report on Friday, December 13th. They issued an “outperform” rating and a $25.00 price objective for the company. Royal Bank of Canada dropped 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 research report on Thursday, January 30th. StockNews.com upgraded shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, DA Davidson upped their target price on shares of Provident Financial Services from $24.00 to $27.00 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Provident Financial Services Stock Performance

Shares of Provident Financial Services stock opened at $18.11 on Monday. The firm has a fifty day moving average of $18.92 and a two-hundred day moving average of $19.14. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 17.24 and a beta of 1.07. 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 earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 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%. As a group, equities research analysts predict 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 $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 (DPR) 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.