Goldman Sachs Group Inc. Sells 60,428 Shares of Provident Financial Services, Inc (PFS)

Goldman Sachs Group Inc. decreased its position in shares of Provident Financial Services, Inc (NYSE:PFS) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,792,750 shares of the savings and loans company’s stock after selling 60,428 shares during the quarter. Goldman Sachs Group Inc. owned approximately 2.79% of Provident Financial Services worth $45,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Provident Financial Services during the 2nd quarter worth about $118,000. Ameritas Investment Partners Inc. acquired a new position in Provident Financial Services during the 1st quarter worth about $136,000. Amalgamated Bank lifted its holdings in Provident Financial Services by 1.5% during the 2nd quarter. Amalgamated Bank now owns 8,387 shares of the savings and loans company’s stock worth $213,000 after buying an additional 126 shares during the period. OppenheimerFunds Inc. acquired a new position in Provident Financial Services during the 1st quarter worth about $293,000. Finally, State of Alaska Department of Revenue lifted its holdings in Provident Financial Services by 79.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 11,980 shares of the savings and loans company’s stock worth $304,000 after buying an additional 5,310 shares during the period. 61.23% of the stock is currently owned by institutional investors.

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Several research firms have recently weighed in on PFS. Royal Bank Of Canada reissued a “buy” rating and issued a $30.00 price objective on shares of Provident Financial Services in a research report on Friday, September 8th. DA Davidson began coverage on Provident Financial Services in a research report on Friday, September 1st. They issued a “neutral” rating and a $25.00 price objective for the company. Zacks Investment Research lowered Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. BidaskClub lowered Provident Financial Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Finally, ValuEngine lowered Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Provident Financial Services, Inc (NYSE:PFS) traded down 0.47% during trading on Tuesday, reaching $27.54. The company’s stock had a trading volume of 2,855 shares. The firm has a market cap of $1.77 billion, a PE ratio of 18.99 and a beta of 1.01. The company has a 50-day moving average of $25.75 and a 200 day moving average of $25.27. Provident Financial Services, Inc has a one year low of $20.93 and a one year high of $28.92.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings results on Friday, July 28th. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. Provident Financial Services had a net margin of 25.39% and a return on equity of 7.40%. The firm had revenue of $83.87 million for the quarter, compared to the consensus estimate of $81.24 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Analysts expect that Provident Financial Services, Inc will post $1.49 EPS for the current fiscal year.

Provident Financial Services Company 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)

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