Provident Financial Services, Inc (PFS) Shares Bought by Teachers Advisors LLC

Teachers Advisors LLC increased its stake in Provident Financial Services, Inc (NYSE:PFS) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 928,751 shares of the savings and loans company’s stock after buying an additional 11,440 shares during the period. Teachers Advisors LLC owned 1.45% of Provident Financial Services worth $24,008,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Provident Financial Services during the fourth quarter valued at $21,180,000. State Street Corp raised its position in shares of Provident Financial Services by 10.8% in the fourth quarter. State Street Corp now owns 1,439,420 shares of the savings and loans company’s stock worth $40,736,000 after buying an additional 140,183 shares during the period. Wells Fargo & Company MN raised its position in shares of Provident Financial Services by 1.7% in the first quarter. Wells Fargo & Company MN now owns 108,931 shares of the savings and loans company’s stock worth $2,816,000 after buying an additional 1,802 shares during the period. Victory Capital Management Inc. raised its position in shares of Provident Financial Services by 294.4% in the first quarter. Victory Capital Management Inc. now owns 29,291 shares of the savings and loans company’s stock worth $757,000 after buying an additional 21,864 shares during the period. Finally, Comerica Bank raised its position in shares of Provident Financial Services by 6.1% in the fourth quarter. Comerica Bank now owns 64,603 shares of the savings and loans company’s stock worth $1,789,000 after buying an additional 3,706 shares during the period. 62.70% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Provident Financial Services, Inc (NYSE:PFS) traded down 0.31% during midday trading on Friday, reaching $25.58. The company had a trading volume of 127,219 shares. The company’s 50-day moving average is $25.00 and its 200-day moving average is $25.68. The firm has a market cap of $1.64 billion, a P/E ratio of 18.08 and a beta of 0.98. Provident Financial Services, Inc has a 52-week low of $19.88 and a 52-week high of $28.92.

Provident Financial Services (NYSE:PFS) last posted its earnings results on Friday, April 28th. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $79.50 million during the quarter, compared to analysts’ expectations of $80.78 million. Provident Financial Services had a return on equity of 7.24% and a net margin of 25.02%. During the same period in the previous year, the firm earned $0.33 earnings per share. Equities research analysts expect that Provident Financial Services, Inc will post $1.47 EPS for the current fiscal year.

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Several brokerages recently weighed in on PFS. Sandler O’Neill raised Provident Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $30.00 target price on shares of Provident Financial Services in a research note on Friday, July 7th. ValuEngine raised Provident Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, June 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $27.00 target price on shares of Provident Financial Services in a research note on Friday, April 28th. Finally, Zacks Investment Research raised Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Friday, March 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $25.90.

In other news, Director Carlos Hernandez sold 2,650 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $24.56, for a total transaction of $65,084.00. Following the completion of the transaction, the director now directly owns 81,408 shares of the company’s stock, valued at $1,999,380.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.

About Provident Financial Services

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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