California State Teachers Retirement System cut its stake in shares of Provident Financial Services, Inc. (NYSE:PFS) by 9.6% in the third quarter, HoldingsChannel.com reports. The fund owned 98,793 shares of the savings and loans company’s stock after selling 10,545 shares during the period. California State Teachers Retirement System’s holdings in Provident Financial Services were worth $2,635,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. New York State Common Retirement Fund grew its stake in shares of Provident Financial Services by 7.5% during the 2nd quarter. New York State Common Retirement Fund now owns 66,300 shares of the savings and loans company’s stock valued at $1,683,000 after acquiring an additional 4,599 shares during the period. Moody Aldrich Partners LLC grew its stake in shares of Provident Financial Services by 14.7% during the 3rd quarter. Moody Aldrich Partners LLC now owns 32,501 shares of the savings and loans company’s stock valued at $867,000 after acquiring an additional 4,176 shares during the period. Aberdeen Asset Management PLC UK bought a new position in shares of Provident Financial Services during the 2nd quarter valued at approximately $4,776,000. Kistler Tiffany Companies LLC bought a new position in shares of Provident Financial Services during the 3rd quarter valued at approximately $1,662,000. Finally, Prudential Financial Inc. lifted its holdings in Provident Financial Services by 10.8% in the 3rd quarter. Prudential Financial Inc. now owns 483,825 shares of the savings and loans company’s stock worth $12,904,000 after purchasing an additional 47,080 shares in the last quarter. Institutional investors own 63.67% of the company’s stock.
A number of research analysts recently commented on the company. Zacks Investment Research cut Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Piper Jaffray Companies reissued a “hold” rating and issued a $28.00 price target on shares of Provident Financial Services in a report on Tuesday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $28.50 price target on shares of Provident Financial Services in a report on Wednesday, November 1st. ValuEngine cut Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Provident Financial Services in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $28.30.
Provident Financial Services, Inc. (NYSE PFS) opened at $28.03 on Friday. 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 twelve month low of $23.19 and a twelve month high of $28.76. The company has a market capitalization of $1,800.00, a P/E ratio of 18.56, a P/E/G ratio of 1.58 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 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 return on equity of 7.61% and a net margin of 25.90%. During the same period in the prior year, the firm earned $0.36 EPS. analysts anticipate 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 was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a dividend yield of 3.01%. Provident Financial Services’s dividend payout ratio (DPR) 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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