Provident Financial Services, Inc. (NYSE:PFS) Stock Holdings Lessened by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in shares of Provident Financial Services, Inc. (NYSE:PFS) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,809 shares of the savings and loans company’s stock after selling 1,066 shares during the quarter. Franklin Resources Inc.’s holdings in Provident Financial Services were worth $544,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. PL Capital Advisors LLC boosted its holdings in shares of Provident Financial Services by 1,787.0% during the fourth quarter. PL Capital Advisors LLC now owns 2,533,618 shares of the savings and loans company’s stock valued at $47,809,000 after acquiring an additional 2,399,351 shares during the period. Norges Bank acquired a new stake in Provident Financial Services in the 4th quarter valued at approximately $7,225,000. Raymond James Financial Inc. bought a new stake in Provident Financial Services during the 4th quarter valued at $6,994,000. JPMorgan Chase & Co. grew its stake in shares of Provident Financial Services by 55.4% in the third quarter. JPMorgan Chase & Co. now owns 795,855 shares of the savings and loans company’s stock worth $14,771,000 after purchasing an additional 283,879 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Provident Financial Services during the fourth quarter valued at about $5,026,000. Institutional investors own 71.97% of the company’s stock.

Provident Financial Services Price Performance

NYSE PFS opened at $15.26 on Thursday. Provident Financial Services, Inc. has a 1 year low of $13.07 and a 1 year high of $22.24. The stock’s 50-day moving average price is $17.11 and its two-hundred day moving average price is $18.68. The company has a market cap of $1.99 billion, a PE ratio of 14.53 and a beta of 0.84. 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 posted its quarterly earnings data 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 return on equity of 5.60% and a net margin of 10.13%. On average, analysts predict that Provident Financial Services, Inc. will post 2.14 EPS for the current year.

Provident Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date was Friday, February 14th. Provident Financial Services’s dividend payout ratio (DPR) is currently 91.43%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PFS shares. Royal Bank of Canada dropped their price target on shares of Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating on the stock in a research 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Provident Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.