Ameriprise Financial Inc. boosted its holdings in Provident Financial Services, Inc. (NYSE:PFS) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 470,969 shares of the savings and loans company’s stock after acquiring an additional 6,498 shares during the period. Ameriprise Financial Inc. owned 0.71% of Provident Financial Services worth $12,561,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Provident Financial Services in the 2nd quarter valued at $118,000. Sei Investments Co. raised its stake in Provident Financial Services by 170.1% in the 3rd quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock valued at $160,000 after acquiring an additional 3,796 shares during the period. Amalgamated Bank raised its stake in Provident Financial Services by 1.5% in the 2nd quarter. Amalgamated Bank now owns 8,387 shares of the savings and loans company’s stock valued at $213,000 after acquiring an additional 126 shares during the period. Susquehanna International Group LLP bought a new stake in Provident Financial Services in the 2nd quarter valued at $251,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Provident Financial Services in the 3rd quarter valued at $298,000. Institutional investors and hedge funds own 63.97% of the company’s stock.
A number of research firms recently weighed in on PFS. Sandler O’Neill cut Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. They noted that the move was a valuation call. Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a report on Friday, October 27th. Zacks Investment Research lowered Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. ValuEngine raised Provident Financial Services from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Provident Financial Services in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $27.80.
In other news, EVP Donald W. Blum sold 6,100 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $28.47, for a total transaction of $173,667.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Laura L. Brooks sold 4,075 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $25.99, for a total value of $105,909.25. Following the sale, the director now directly owns 62,905 shares in the company, valued at $1,634,900.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,175 shares of company stock worth $690,186. Insiders own 2.90% of the company’s stock.
Provident Financial Services, Inc. (NYSE PFS) opened at $27.45 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.19. Provident Financial Services, Inc. has a 1-year low of $23.19 and a 1-year high of $28.92. The company has a market capitalization of $1,822.47, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.
Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Friday, October 27th. The savings and loans company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Provident Financial Services had a return on equity of 7.61% and a net margin of 25.90%. The firm had revenue of $85.32 million for the quarter, compared to analyst estimates of $83.84 million. During the same period in the prior year, the firm posted $0.36 EPS. equities research analysts predict that Provident Financial Services, Inc. will post 1.54 earnings per share for the current year.
The company also recently disclosed a special dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a $0.15 dividend. This represents a yield of 3.01%. The ex-dividend date is Thursday, December 7th. Provident Financial Services’s dividend payout ratio is 52.98%.
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Provident Financial Services Profile
Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.
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