Renaissance Technologies LLC Buys 16,400 Shares of Provident Financial Services, Inc (NYSE:PFS)

Renaissance Technologies LLC grew its holdings in shares of Provident Financial Services, Inc (NYSE:PFS) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,080,500 shares of the savings and loans company’s stock after purchasing an additional 16,400 shares during the period. Renaissance Technologies LLC owned 1.63% of Provident Financial Services worth $27,423,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PFS. Russell Investments Group Ltd. increased its holdings in shares of Provident Financial Services by 0.9% in the 1st quarter. Russell Investments Group Ltd. now owns 104,433 shares of the savings and loans company’s stock worth $2,699,000 after acquiring an additional 921 shares during the period. Wells Fargo & Company MN grew its position in Provident Financial Services by 1.7% in the 1st quarter. Wells Fargo & Company MN now owns 108,931 shares of the savings and loans company’s stock valued at $2,816,000 after buying an additional 1,802 shares in the last quarter. Bank of New York Mellon Corp grew its position in Provident Financial Services by 6.8% in the 1st quarter. Bank of New York Mellon Corp now owns 929,516 shares of the savings and loans company’s stock valued at $24,028,000 after buying an additional 59,145 shares in the last quarter. Comerica Bank grew its position in Provident Financial Services by 3.8% in the 1st quarter. Comerica Bank now owns 67,049 shares of the savings and loans company’s stock valued at $1,773,000 after buying an additional 2,446 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Provident Financial Services by 44.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 36,137 shares of the savings and loans company’s stock valued at $934,000 after buying an additional 11,200 shares in the last quarter. 61.23% of the stock is currently owned by institutional investors and hedge funds.

Provident Financial Services, Inc (NYSE PFS) opened at 27.67 on Tuesday. Provident Financial Services, Inc has a 12 month low of $20.93 and a 12 month high of $28.92. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 19.08 and a beta of 1.01. The company’s 50-day moving average is $25.75 and its 200 day moving average is $25.27.

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

Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Provident Financial Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $25.50 target price on shares of Provident Financial Services in a report on Friday, July 14th. ValuEngine cut shares of Provident Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Sandler O’Neill raised shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.50.

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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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