Provident Financial Services Inc. (PFS) Stake Held by Swiss National Bank
Swiss National Bank continued to hold its position in shares of Provident Financial Services Inc. (NYSE:PFS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,700 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned 0.15% of Provident Financial Services worth $1,919,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its position in Provident Financial Services by 138.1% in the first quarter. BlackRock Inc. now owns 4,955 shares of the company’s stock worth $100,000 after buying an additional 2,874 shares during the last quarter. Manchester Capital Management LLC acquired a new position in Provident Financial Services during the first quarter worth about $105,000. Quantbot Technologies LP acquired a new position in Provident Financial Services during the second quarter worth about $121,000. Huntington Asset Advisors Inc. acquired a new position in Provident Financial Services during the first quarter worth about $162,000. Finally, Pennsylvania Trust Co acquired a new position in Provident Financial Services during the second quarter worth about $200,000. Institutional investors and hedge funds own 61.25% of the company’s stock.
Shares of Provident Financial Services Inc. (NYSE:PFS) traded up 0.53% during mid-day trading on Wednesday, hitting $20.90. 134,998 shares of the company were exchanged. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 15.66 and a beta of 1.19. The firm has a 50 day moving average of $20.93 and a 200 day moving average of $20.15. Provident Financial Services Inc. has a 12-month low of $17.71 and a 12-month high of $21.72.
Provident Financial Services (NYSE:PFS) last released its earnings results on Friday, July 29th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. Provident Financial Services had a return on equity of 7.00% and a net margin of 24.06%. The firm had revenue of $77.73 million for the quarter, compared to analysts’ expectations of $70.14 million. During the same quarter in the previous year, the business posted $0.35 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts forecast that Provident Financial Services Inc. will post $1.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, August 11th. Provident Financial Services’s dividend payout ratio is presently 53.73%.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Sandler O’Neill downgraded shares of Provident Financial Services from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research report on Tuesday, September 13th.
In other Provident Financial Services news, EVP Donald W. Blum sold 14,040 shares of Provident Financial Services stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $21.49, for a total value of $301,719.60. Following the transaction, the executive vice president now owns 74,686 shares in the company, valued at $1,605,002.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John F. Kuntz sold 10,698 shares of Provident Financial Services stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $21.54, for a total value of $230,434.92. Following the completion of the transaction, the executive vice president now owns 79,312 shares in the company, valued at approximately $1,708,380.48. The disclosure for this sale can be found here. 3.30% of the stock is owned by company insiders.
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.
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