Thrivent Financial for Lutherans lessened its stake in shares of Provident Financial Services, Inc. (NYSE:PFS) by 3.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 691,032 shares of the savings and loans company’s stock after selling 24,943 shares during the quarter. Thrivent Financial for Lutherans owned about 1.03% of Provident Financial Services worth $17,683,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in Provident Financial Services by 66.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,990 shares of the savings and loans company’s stock valued at $135,000 after buying an additional 2,000 shares in the last quarter. Calton & Associates Inc. purchased a new position in Provident Financial Services during the 4th quarter valued at about $190,000. Telemus Capital LLC purchased a new position in Provident Financial Services during the 4th quarter valued at about $206,000. CIBC Asset Management Inc purchased a new position in Provident Financial Services during the 4th quarter valued at about $217,000. Finally, SG Americas Securities LLC purchased a new position in Provident Financial Services during the 1st quarter valued at about $228,000. 66.53% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on PFS. Boenning Scattergood reaffirmed a “hold” rating on shares of Provident Financial Services in a report on Monday, January 29th. Zacks Investment Research lowered Provident Financial Services from a “hold” rating to a “sell” rating in a report on Thursday, March 29th. Sandler O’Neill raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Friday, January 26th. Finally, ValuEngine raised Provident Financial Services from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.42.
In other news, Director Edward Odonnell sold 11,786 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $25.84, for a total transaction of $304,550.24. Following the completion of the transaction, the director now owns 71,549 shares of the company’s stock, valued at $1,848,826.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by insiders.
Shares of NYSE PFS opened at $27.39 on Friday. Provident Financial Services, Inc. has a 12 month low of $23.19 and a 12 month high of $28.76. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. The stock has a market cap of $1.84 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 1.87 and a beta of 0.93.
Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Friday, April 27th. The savings and loans company reported $0.43 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Provident Financial Services had a return on equity of 7.89% and a net margin of 25.30%. The company had revenue of $86.58 million during the quarter, compared to analyst estimates of $86.38 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. Provident Financial Services’s revenue was up 8.9% on a year-over-year basis. sell-side analysts anticipate that Provident Financial Services, Inc. will post 1.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Tuesday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Monday, May 14th. Provident Financial Services’s payout ratio is 52.63%.
Provident Financial Services Company 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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