Provident Financial Services, Inc. (NYSE:PFS) Holdings Lowered by Nationwide Fund Advisors

Nationwide Fund Advisors decreased its stake in shares of Provident Financial Services, Inc. (NYSE:PFS) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,917 shares of the savings and loans company’s stock after selling 4,792 shares during the period. Nationwide Fund Advisors owned 0.10% of Provident Financial Services worth $1,678,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Aberdeen Asset Management PLC UK acquired a new stake in shares of Provident Financial Services in the second quarter worth $4,776,000. Northern Trust Corp increased its position in shares of Provident Financial Services by 5.7% in the second quarter. Northern Trust Corp now owns 2,444,532 shares of the savings and loans company’s stock worth $62,043,000 after acquiring an additional 132,884 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Provident Financial Services in the third quarter worth $1,807,000. Kistler Tiffany Companies LLC acquired a new stake in shares of Provident Financial Services in the third quarter worth $1,662,000. Finally, State Street Corp increased its position in shares of Provident Financial Services by 4.1% in the second quarter. State Street Corp now owns 1,533,692 shares of the savings and loans company’s stock worth $38,931,000 after acquiring an additional 60,670 shares in the last quarter. 63.67% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Donald W. Blum sold 6,100 shares of Provident Financial Services stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $28.47, for a total value of $173,667.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laura L. Brooks sold 4,075 shares of Provident Financial Services stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $25.99, for a total transaction of $105,909.25. Following the completion of the transaction, the director now directly owns 62,905 shares in the company, valued at approximately $1,634,900.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,175 shares of company stock worth $690,186. 2.90% of the stock is owned by corporate insiders.

A number of research firms recently weighed in on PFS. Royal Bank of Canada reaffirmed a “buy” rating and set a $30.00 price target on shares of Provident Financial Services in a report on Friday, September 8th. Sandler O’Neill lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. ValuEngine upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Provident Financial Services in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Provident Financial Services currently has an average rating of “Hold” and a consensus price target of $27.80.

Shares of Provident Financial Services, Inc. (NYSE:PFS) opened at $26.97 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.08 and a quick ratio of 1.08. Provident Financial Services, Inc. has a twelve month low of $23.19 and a twelve month high of $28.92. The firm has a market cap of $1,792.90, a PE ratio of 17.86, a P/E/G ratio of 1.75 and a beta of 0.97.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings data on Friday, October 27th. The savings and loans company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The business had revenue of $85.32 million for the quarter, compared to analysts’ expectations of $83.84 million. Provident Financial Services had a net margin of 25.90% and a return on equity of 7.61%. During the same quarter last year, the company earned $0.36 EPS. analysts expect that Provident Financial Services, Inc. will post 1.54 earnings per share for the current year.

The business also recently announced a special dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, December 7th. This represents a yield of 3.01%. Provident Financial Services’s payout ratio is 52.98%.

COPYRIGHT VIOLATION NOTICE: This report was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another website, it was illegally stolen and republished in violation of international copyright laws. The correct version of this report can be read at https://www.dispatchtribunal.com/2018/01/01/provident-financial-services-inc-pfs-stake-lessened-by-nationwide-fund-advisors.html.

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.

Institutional Ownership by Quarter for Provident Financial Services (NYSE:PFS)

Receive News & Ratings for Provident Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply