2 weeks Ago By ABMN Staff
Public Employees Retirement Association of Colorado increased its position in Provident Financial Services, Inc. ( NYSE:PFS – Free Report ) by 63.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).
The firm owned 19,578 shares of the savings and loans company’s stock after acquiring an additional 7,564 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Provident Financial Services were worth $281,000 as of its most recent SEC filing. Several other hedge funds have also recently bought and sold shares of the company.
Intech Investment Management LLC purchased a new position in shares of Provident Financial Services in the second quarter valued at $186,000. MQS Management LLC purchased a new position in Provident Financial Services during the 2nd quarter valued at about $241,000. Hsbc Holdings PLC raised its position in Provident Financial Services by 4,245.
5% during the second quarter. Hsbc Holdings PLC now owns 3,996,954 shares of the savings and loans company’s stock worth $56,877,000 after acquiring an additional 3,904,975 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Provident Financial Services in the second quarter valued at about $218,000.
Finally, Amalgamated Bank grew its position in shares of Provident Financial Services by 73.2% in the second quarter. Amalgamated Bank now owns 39,737 shares of the savings and loans company’s stock valued at $570,000 after purchasing an additional 16,800 shares during the last quarter.
71.97% of the stock is owned by hedge funds and other institutional investors. Wall Street Analysts Forecast Growth PFS has been the topic of a number of recent research reports.
StockNews.com lowered Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price objective on Provident Financial Services from $18.
00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised shares of Provident Financial Services from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $20.
00 to $21.00 in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company.
Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.67.
Provident Financial Services Price Performance Shares of NYSE:PFS opened at $18.33 on Friday. The company has a market cap of $2.
39 billion, a P/E ratio of 11.46 and a beta of 1.04.
The business has a fifty day simple moving average of $18.21 and a 200-day simple moving average of $15.94.
Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $19.
59. The company has a quick ratio of 1.03, a current ratio of 1.
03 and a debt-to-equity ratio of 1.08. Provident Financial Services ( NYSE:PFS – Get Free Report ) last posted its quarterly earnings data on Thursday, July 25th.
The savings and loans company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.
39). Provident Financial Services had a net margin of 9.38% and a return on equity of 4.
95%. The company had revenue of $141.51 million for the quarter, compared to analyst estimates of $148.
60 million. During the same period in the prior year, the company earned $0.45 EPS.
The company’s revenue was up 42.8% compared to the same quarter last year. Equities research analysts forecast that Provident Financial Services, Inc.
will post 1.72 EPS for the current year. Provident Financial Services Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Friday, August 30th.
Shareholders of record on Friday, August 16th were issued a $0.24 dividend. The ex-dividend date was Friday, August 16th.
This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.24%.
Provident Financial Services’s dividend payout ratio (DPR) is presently 60.00%. Insider Buying and Selling at Provident Financial Services In other news, EVP Vito Giannola sold 5,499 shares of the company’s stock in a transaction on Tuesday, August 20th.
The stock was sold at an average price of $18.09, for a total transaction of $99,476.91.
Following the completion of the sale, the executive vice president now directly owns 88,656 shares in the company, valued at approximately $1,603,787.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link .
4.29% of the stock is owned by company insiders. Provident Financial Services Profile ( 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. Featured Articles 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 .
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