Thrivent Financial for Lutherans Has $2.99 Million Holdings in Provident Financial Services, Inc. (NYSE:PFS)

Thrivent Financial for Lutherans raised its position in Provident Financial Services, Inc. (NYSE:PFS) by 54.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 158,433 shares of the savings and loans company’s stock after purchasing an additional 55,964 shares during the period. Thrivent Financial for Lutherans owned 0.12% of Provident Financial Services worth $2,990,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC boosted its position in Provident Financial Services by 193.8% during the third quarter. Intech Investment Management LLC now owns 38,123 shares of the savings and loans company’s stock valued at $708,000 after acquiring an additional 25,146 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Provident Financial Services by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,792,792 shares of the savings and loans company’s stock valued at $33,274,000 after purchasing an additional 102,737 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Provident Financial Services by 5.9% in the third quarter. The Manufacturers Life Insurance Company now owns 68,346 shares of the savings and loans company’s stock worth $1,269,000 after purchasing an additional 3,829 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Provident Financial Services by 3.3% in the third quarter. D.A. Davidson & CO. now owns 29,402 shares of the savings and loans company’s stock valued at $546,000 after buying an additional 944 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Provident Financial Services by 136.8% in the third quarter. BNP Paribas Financial Markets now owns 65,282 shares of the savings and loans company’s stock valued at $1,212,000 after buying an additional 37,719 shares during the period. 71.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PFS has been the subject of several research analyst reports. Hovde Group began coverage on shares of Provident Financial Services in a research note on Friday, December 13th. They issued an “outperform” rating and a $25.00 price objective for the company. Royal Bank of Canada decreased their price target on shares of Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com raised shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Provident Financial Services Stock Performance

PFS opened at $17.34 on Thursday. Provident Financial Services, Inc. has a 1-year low of $13.07 and a 1-year high of $22.24. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 16.51 and a beta of 1.06. The company’s fifty day moving average price is $18.17 and its two-hundred day moving average price is $18.99. 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 (NYSE:PFS) last announced its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share 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%. On average, analysts expect that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.96 annualized dividend and a dividend yield of 5.54%. Provident Financial Services’s payout ratio is 91.43%.

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.