Prudential Financial Inc. Has $13.45 Million Holdings in Provident Financial Services, Inc. (PFS)

Prudential Financial Inc. grew its position in shares of Provident Financial Services, Inc. (NYSE:PFS) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 525,405 shares of the savings and loans company’s stock after purchasing an additional 15,490 shares during the period. Prudential Financial Inc. owned 0.79% of Provident Financial Services worth $13,445,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its stake in shares of Provident Financial Services by 66.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,990 shares of the savings and loans company’s stock worth $135,000 after purchasing an additional 2,000 shares during the last quarter. Swiss National Bank boosted its stake in shares of Provident Financial Services by 2.8% during the 4th quarter. Swiss National Bank now owns 107,500 shares of the savings and loans company’s stock worth $2,899,000 after purchasing an additional 2,900 shares during the last quarter. Aperio Group LLC boosted its stake in shares of Provident Financial Services by 19.1% during the 4th quarter. Aperio Group LLC now owns 18,614 shares of the savings and loans company’s stock worth $502,000 after purchasing an additional 2,981 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Provident Financial Services by 0.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 906,689 shares of the savings and loans company’s stock worth $24,454,000 after purchasing an additional 3,259 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Provident Financial Services by 22.0% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 27,770 shares of the savings and loans company’s stock worth $749,000 after acquiring an additional 5,000 shares during the last quarter. 64.36% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on PFS shares. Sandler O’Neill raised shares of Provident Financial Services from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Friday, January 26th. ValuEngine raised shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research cut shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Finally, Boenning Scattergood reissued a “hold” rating on shares of Provident Financial Services in a research report on Monday, January 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Provident Financial Services has an average rating of “Hold” and an average target price of $28.42.

PFS opened at $27.89 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.09 and a current ratio of 1.09. Provident Financial Services, Inc. has a 1 year low of $23.19 and a 1 year high of $28.76. The company has a market capitalization of $1.87 billion, a P/E ratio of 18.35, a P/E/G ratio of 1.91 and a beta of 0.93.

Provident Financial Services (NYSE:PFS) last released its earnings results on Friday, April 27th. The savings and loans company reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Provident Financial Services had a net margin of 25.30% and a return on equity of 7.89%. The business had revenue of $86.58 million for the quarter, compared to analysts’ expectations of $86.38 million. During the same period last year, the company earned $0.37 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. equities research analysts anticipate that Provident Financial Services, Inc. will post 1.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Tuesday, May 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.87%. Provident Financial Services’s dividend payout ratio (DPR) is 52.63%.

In other Provident Financial Services news, Director Edward Odonnell sold 5,000 shares of Provident Financial Services stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $25.40, for a total transaction of $127,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

About Provident Financial Services

Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking 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 and KEOGH accounts.

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Institutional Ownership by Quarter for Provident Financial Services (NYSE:PFS)

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