Keeley Teton Advisors LLC Decreases Holdings in Provident Financial Services, Inc. (PFS)

Keeley Teton Advisors LLC cut its position in Provident Financial Services, Inc. (NYSE:PFS) by 20.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 863,488 shares of the savings and loans company’s stock after selling 225,586 shares during the period. Provident Financial Services accounts for 1.2% of Keeley Teton Advisors LLC’s holdings, making the stock its 24th largest position. Keeley Teton Advisors LLC owned about 1.30% of Provident Financial Services worth $23,029,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Arizona State Retirement System lifted its position in Provident Financial Services by 0.3% during the second quarter. Arizona State Retirement System now owns 31,618 shares of the savings and loans company’s stock worth $802,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Provident Financial Services by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the savings and loans company’s stock valued at $627,000 after purchasing an additional 100 shares during the period. Amalgamated Bank raised its holdings in shares of Provident Financial Services by 1.5% in the 2nd quarter. Amalgamated Bank now owns 8,387 shares of the savings and loans company’s stock valued at $213,000 after buying an additional 126 shares during the period. Texas Permanent School Fund raised its holdings in shares of Provident Financial Services by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 44,301 shares of the savings and loans company’s stock valued at $1,124,000 after buying an additional 521 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of Provident Financial Services by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 127,344 shares of the savings and loans company’s stock valued at $3,232,000 after buying an additional 528 shares during the period. 63.97% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently commented on PFS shares. Royal Bank of Canada reissued a “buy” rating and set a $30.00 target price on shares of Provident Financial Services in a research note on Friday, September 8th. Zacks Investment Research raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, November 1st. ValuEngine raised Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Sandler O’Neill cut Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $28.50 target price on shares of Provident Financial Services in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $27.80.

In other Provident Financial Services news, Director Laura L. Brooks sold 4,075 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $25.99, for a total value of $105,909.25. Following the transaction, the director now directly owns 62,905 shares of the company’s stock, valued at $1,634,900.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlos Hernandez sold 3,000 shares of Provident Financial Services stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $27.58, for a total value of $82,740.00. Following the sale, the director now directly owns 81,958 shares in the company, valued at $2,260,401.64. The disclosure for this sale can be found here. Insiders sold a total of 25,175 shares of company stock worth $690,186 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Provident Financial Services, Inc. (NYSE PFS) traded down $0.49 on Friday, hitting $26.66. The company had a trading volume of 167,600 shares, compared to its average volume of 194,458. The firm has a market cap of $1,804.86, a PE ratio of 17.98, a P/E/G ratio of 1.76 and a beta of 0.97. 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, Inc. has a 1-year low of $23.19 and a 1-year high of $28.92.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Friday, October 27th. The savings and loans company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Provident Financial Services had a return on equity of 7.61% and a net margin of 25.90%. The firm had revenue of $85.32 million for the quarter, compared to analysts’ expectations of $83.84 million. During the same quarter in the prior year, the firm earned $0.36 EPS. equities analysts expect that Provident Financial Services, Inc. will post 1.54 earnings per share for the current fiscal year.

The company also recently announced a special dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be given a $0.15 dividend. This represents a dividend yield of 3.01%. The ex-dividend date is Thursday, December 7th. Provident Financial Services’s dividend payout ratio (DPR) is currently 52.98%.

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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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