Koch Industries Inc. bought a new stake in shares of Provident Financial Services, Inc. (NYSE:PFS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,455 shares of the savings and loans company’s stock, valued at approximately $282,000.
Several other large investors have also bought and sold shares of PFS. Beacon Investment Advisory Services Inc. bought a new stake in shares of Provident Financial Services during the 3rd quarter valued at about $30,934,000. BlackRock Inc. boosted its stake in Provident Financial Services by 3.8% during the 4th quarter. BlackRock Inc. now owns 8,069,971 shares of the savings and loans company’s stock valued at $217,648,000 after purchasing an additional 294,452 shares during the period. Standard Life Aberdeen plc boosted its stake in Provident Financial Services by 38.9% during the 4th quarter. Standard Life Aberdeen plc now owns 500,000 shares of the savings and loans company’s stock valued at $13,485,000 after purchasing an additional 140,000 shares during the period. Cortina Asset Management LLC acquired a new position in Provident Financial Services during the 3rd quarter valued at about $3,659,000. Finally, Wells Fargo & Company MN boosted its stake in Provident Financial Services by 93.2% during the 4th quarter. Wells Fargo & Company MN now owns 247,891 shares of the savings and loans company’s stock valued at $6,685,000 after purchasing an additional 119,561 shares during the period. Institutional investors and hedge funds own 66.32% of the company’s stock.
In other news, Director Edward Odonnell sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $25.40, for a total value of $127,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.
PFS has been the subject of a number of research analyst reports. Piper Jaffray reaffirmed a “hold” rating and issued a $28.00 price target on shares of Provident Financial Services in a research note on Tuesday, January 9th. Sandler O’Neill upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Friday, January 26th. Boenning Scattergood restated a “hold” rating on shares of Provident Financial Services in a report on Monday, January 29th. Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, ValuEngine upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $28.42.
Shares of PFS stock traded down $0.47 during mid-day trading on Friday, reaching $25.44. The company’s stock had a trading volume of 109,908 shares, compared to its average volume of 168,173. Provident Financial Services, Inc. has a 1-year low of $23.19 and a 1-year high of $28.76. The stock has a market cap of $1,717.19, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.75 and a beta of 0.93. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.12.
Provident Financial Services (NYSE:PFS) last announced its earnings results on Friday, January 26th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $85.20 million for the quarter, compared to analyst estimates of $85.36 million. Provident Financial Services had a return on equity of 7.61% and a net margin of 24.75%. During the same quarter last year, the business earned $0.35 EPS. sell-side analysts predict that Provident Financial Services, Inc. will post 1.84 earnings per share for the current year.
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Provident Financial Services Profile
Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking 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 and KEOGH accounts.
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