Keeley Teton Advisors LLC lessened its position in Provident Financial Services, Inc (NYSE:PFS) by 20.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 863,488 shares of the savings and loans company’s stock after selling 225,586 shares during the period. Provident Financial Services comprises 1.2% of Keeley Teton Advisors LLC’s portfolio, making the stock its 24th largest holding. Keeley Teton Advisors LLC owned about 1.30% of Provident Financial Services worth $23,029,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Provident Financial Services in the second quarter worth approximately $118,000. Sei Investments Co. lifted its stake in shares of Provident Financial Services by 170.1% in the third quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock worth $160,000 after buying an additional 3,796 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Provident Financial Services by 1.5% in the second 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 in the last quarter. Susquehanna International Group LLP bought a new position in shares of Provident Financial Services in the second quarter worth approximately $251,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Provident Financial Services in the third quarter worth approximately $298,000. Hedge funds and other institutional investors own 63.97% of the company’s stock.
Shares of Provident Financial Services, Inc (NYSE PFS) traded down $0.17 during trading on Wednesday, reaching $27.96. 311,500 shares of the company were exchanged, compared to its average volume of 192,807. The company has a market capitalization of $1,870.00, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97. Provident Financial Services, Inc has a 12 month low of $23.19 and a 12 month high of $28.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.19.
Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Friday, October 27th. The savings and loans company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. The company had revenue of $85.32 million for the quarter, compared to the consensus estimate of $83.84 million. Provident Financial Services had a net margin of 25.90% and a return on equity of 7.61%. During the same quarter in the prior year, the firm earned $0.36 earnings per share. equities research analysts predict that Provident Financial Services, Inc will post 1.54 earnings per share for the current fiscal year.
The business also recently disclosed a special dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, December 7th. This represents a yield of 3.01%. Provident Financial Services’s dividend payout ratio (DPR) is 52.98%.
In other Provident Financial Services news, EVP Donald W. Blum sold 6,100 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $28.47, for a total value of $173,667.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Laura L. Brooks sold 4,075 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $25.99, for a total transaction of $105,909.25. Following the completion of the transaction, the director now owns 62,905 shares in the company, valued at $1,634,900.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,175 shares of company stock worth $690,186. 2.90% of the stock is owned by insiders.
PFS has been the topic of several analyst reports. BidaskClub downgraded shares of Provident Financial Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. DA Davidson initiated coverage on shares of Provident Financial Services in a research note on Friday, September 1st. They issued a “neutral” rating and a $25.00 target price on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $30.00 target price on shares of Provident Financial Services in a research note on Friday, September 8th. Zacks Investment Research downgraded shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Provident Financial Services in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $27.80.
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.
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