Orion Portfolio Solutions LLC Sells 1,453 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Orion Portfolio Solutions LLC decreased its holdings in Provident Financial Services, Inc. (NYSE:PFS) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,264 shares of the savings and loans company’s stock after selling 1,453 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Provident Financial Services were worth $401,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Provident Financial Services by 5.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 68,346 shares of the savings and loans company’s stock valued at $1,269,000 after purchasing an additional 3,829 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Provident Financial Services by 136.8% during the third quarter. BNP Paribas Financial Markets now owns 65,282 shares of the savings and loans company’s stock worth $1,212,000 after buying an additional 37,719 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Provident Financial Services by 9.3% in the third quarter. Quantinno Capital Management LP now owns 23,042 shares of the savings and loans company’s stock valued at $428,000 after purchasing an additional 1,954 shares during the last quarter. State Street Corp increased its stake in Provident Financial Services by 10.2% in the 3rd quarter. State Street Corp now owns 7,683,467 shares of the savings and loans company’s stock valued at $142,605,000 after buying an additional 713,688 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Provident Financial Services by 13,182.2% during the third quarter. Wellington Management Group LLP now owns 1,854,596 shares of the savings and loans company’s stock worth $34,421,000 after acquiring an additional 1,840,633 shares in the last quarter. Institutional investors own 71.97% of the company’s stock.

Provident Financial Services Trading Down 2.3 %

NYSE:PFS opened at $14.96 on Wednesday. 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 firm’s fifty day moving average is $17.61 and its 200-day moving average is $18.84. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $22.24. The firm has a market cap of $1.95 billion, a P/E ratio of 14.24 and a beta of 0.84.

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 analysts’ consensus estimates 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 analysts expect that Provident Financial Services, Inc. will post 2.14 earnings per share for the current year.

Provident Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.96 annualized dividend and a yield of 6.42%. Provident Financial Services’s dividend payout ratio (DPR) is 91.43%.

Wall Street Analysts Forecast Growth

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