Nisa Investment Advisors LLC decreased its position in shares of Provident Financial Services, Inc. (NYSE:PFS – Free Report) by 61.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,565 shares of the savings and loans company’s stock after selling 2,485 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Provident Financial Services were worth $30,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. lifted its stake in shares of Provident Financial Services by 120.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock worth $28,000 after purchasing an additional 820 shares during the last quarter. International Assets Investment Management LLC grew its stake in Provident Financial Services by 1,779.7% in the third quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company’s stock valued at $146,000 after purchasing an additional 7,457 shares during the last quarter. Algert Global LLC bought a new position in Provident Financial Services in the second quarter worth about $178,000. Haverford Trust Co purchased a new stake in shares of Provident Financial Services during the third quarter valued at about $187,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Provident Financial Services in the 3rd quarter valued at about $211,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.
Insider Buying and Selling
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 insiders.
Provident Financial Services Price Performance
NYSE:PFS opened at $18.58 on Friday. The firm’s fifty day moving average is $19.54 and its two-hundred day moving average is $19.03. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 17.70 and a beta of 1.08. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03. Provident Financial Services, Inc. has a one year low of $13.07 and a one year high of $22.24.
Provident Financial Services (NYSE:PFS – Get Free Report) last posted its earnings results 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 return on equity of 5.79% and a net margin of 10.13%. Research analysts expect that Provident Financial Services, Inc. will post 2.09 EPS for the current year.
Provident Financial Services Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.17%. The ex-dividend date is Friday, February 14th. Provident Financial Services’s dividend payout ratio (DPR) is 91.43%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on PFS. Royal Bank of Canada reduced their price target on Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday. DA Davidson upped their target price on Provident Financial Services from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, November 15th. StockNews.com raised Provident Financial Services from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Hovde Group started coverage on shares of Provident Financial Services in a report on Friday, December 13th. They set an “outperform” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.
View Our Latest Stock Analysis on Provident Financial Services
About Provident Financial Services
(Free Report)
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.
See Also
Want to see what other hedge funds are holding PFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Provident Financial Services, Inc. (NYSE:PFS – Free Report).
Receive News & Ratings for Provident Financial Services Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Provident Financial Services and related companies with MarketBeat.com’s FREE daily email newsletter.
