Provident Financial Services, Inc. (NYSE:PFS) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its position in Provident Financial Services, Inc. (NYSE:PFS) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 264,933 shares of the savings and loans company’s stock after acquiring an additional 13,188 shares during the period. Empowered Funds LLC owned 0.20% of Provident Financial Services worth $4,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFS. State Street Corp increased its holdings in shares of Provident Financial Services by 10.2% in the third quarter. State Street Corp now owns 7,683,467 shares of the savings and loans company’s stock valued at $142,605,000 after purchasing an additional 713,688 shares during the period. Geode Capital Management LLC boosted its position in Provident Financial Services by 1.9% in the third quarter. Geode Capital Management LLC now owns 2,947,394 shares of the savings and loans company’s stock valued at $54,715,000 after buying an additional 53,943 shares during the last quarter. Systematic Financial Management LP increased its holdings in Provident Financial Services by 11.7% in the 3rd quarter. Systematic Financial Management LP now owns 1,888,623 shares of the savings and loans company’s stock worth $35,053,000 after buying an additional 198,468 shares during the period. Wellington Management Group LLP raised its position in Provident Financial Services by 13,182.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,854,596 shares of the savings and loans company’s stock worth $34,421,000 after buying an additional 1,840,633 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Provident Financial Services by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,792,792 shares of the savings and loans company’s stock valued at $33,274,000 after acquiring an additional 102,737 shares during the period. Hedge funds and other institutional investors own 71.97% of the company’s stock.

Provident Financial Services Trading Up 1.7 %

PFS stock opened at $19.49 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.95. Provident Financial Services, Inc. has a 52-week low of $13.07 and a 52-week high of $22.24. The company’s 50-day simple moving average is $19.26 and its 200-day simple moving average is $19.09. The firm has a market cap of $2.54 billion, a P/E ratio of 18.56 and a beta of 1.07.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.13). Provident Financial Services had a net margin of 10.13% and a return on equity of 5.60%. As a group, equities analysts forecast that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.93%. The ex-dividend date is Friday, February 14th. Provident Financial Services’s payout ratio is presently 91.43%.

Insiders Place Their Bets

In other news, EVP James A. Christy sold 3,500 shares of Provident Financial Services stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $20.88, for a total value of $73,080.00. Following the sale, the executive vice president now owns 34,254 shares in the company, valued at $715,223.52. This trade represents a 9.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on PFS. StockNews.com lowered shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. DA Davidson lifted their price objective on Provident Financial Services from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada decreased their price objective on Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Finally, Hovde Group initiated coverage on Provident Financial Services in a report on Friday, December 13th. They set an “outperform” rating and a $25.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.