Provident Financial Services, Inc. (NYSE:PFS) Stock Holdings Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in shares of Provident Financial Services, Inc. (NYSE:PFS) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,878 shares of the savings and loans company’s stock after selling 3,714 shares during the period. PNC Financial Services Group Inc.’s holdings in Provident Financial Services were worth $1,073,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PFS. Nomura Asset Management Co. Ltd. raised its stake in Provident Financial Services by 120.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock valued at $28,000 after acquiring an additional 820 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Provident Financial Services during the 4th quarter valued at $99,000. KBC Group NV raised its stake in Provident Financial Services by 40.7% during the 4th quarter. KBC Group NV now owns 6,387 shares of the savings and loans company’s stock valued at $121,000 after acquiring an additional 1,848 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Provident Financial Services by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,533 shares of the savings and loans company’s stock valued at $142,000 after acquiring an additional 4,408 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Provident Financial Services by 35,936.4% during the 4th quarter. Allworth Financial LP now owns 7,928 shares of the savings and loans company’s stock valued at $151,000 after acquiring an additional 7,906 shares in the last quarter. Institutional investors own 71.97% of the company’s stock.

Provident Financial Services Stock Up 2.9 %

Shares of PFS stock opened at $17.14 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $2.24 billion, a PE ratio of 16.32 and a beta of 1.06. The business’s fifty day moving average is $18.41 and its 200-day moving average is $19.08. 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 issued its earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.13). Provident Financial Services had a return on equity of 5.60% and a net margin of 10.13%. Equities analysts expect that Provident Financial Services, Inc. will post 2.14 earnings per share for the current fiscal year.

Provident Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Friday, February 14th. Provident Financial Services’s payout ratio is 91.43%.

Analyst Ratings Changes

Several analysts have weighed in on the company. 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 research note on Thursday, January 30th. StockNews.com upgraded Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Finally, Hovde Group started coverage on Provident Financial Services in a research report on Friday, December 13th. They set an “outperform” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.00.

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.