Credit Suisse AG lowered its position in shares of Provident Financial Services, Inc (NYSE:PFS) by 21.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,429 shares of the savings and loans company’s stock after selling 25,832 shares during the period. Credit Suisse AG owned about 0.14% of Provident Financial Services worth $2,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its position in Provident Financial Services by 43,449.2% in the first quarter. BlackRock Inc. now owns 7,524,873 shares of the savings and loans company’s stock worth $194,518,000 after buying an additional 7,507,594 shares in the last quarter. Vanguard Group Inc. increased its position in Provident Financial Services by 7.7% in the first quarter. Vanguard Group Inc. now owns 5,548,692 shares of the savings and loans company’s stock worth $143,433,000 after buying an additional 394,788 shares in the last quarter. State Street Corp increased its position in Provident Financial Services by 2.3% in the first quarter. State Street Corp now owns 1,473,022 shares of the savings and loans company’s stock worth $38,075,000 after buying an additional 33,602 shares in the last quarter. Principal Financial Group Inc. increased its position in Provident Financial Services by 4.5% in the first quarter. Principal Financial Group Inc. now owns 1,167,510 shares of the savings and loans company’s stock worth $30,179,000 after buying an additional 50,160 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Provident Financial Services by 6.8% in the first quarter. Renaissance Technologies LLC now owns 1,064,100 shares of the savings and loans company’s stock worth $27,507,000 after buying an additional 68,100 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Provident Financial Services, Inc (PFS) traded down 0.50% on Monday, reaching $25.83. 38,333 shares of the company were exchanged. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 17.81 and a beta of 0.99. The stock has a 50-day moving average price of $25.36 and a 200 day moving average price of $25.55. Provident Financial Services, Inc has a 52 week low of $20.10 and a 52 week high of $28.92.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings data on Friday, July 28th. The savings and loans company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Provident Financial Services had a net margin of 25.39% and a return on equity of 7.40%. The firm had revenue of $83.87 million during the quarter, compared to analysts’ expectations of $81.24 million. During the same quarter last year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts forecast that Provident Financial Services, Inc will post $1.48 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be paid a $0.20 dividend. This is a boost from Provident Financial Services’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, August 11th. This represents a $0.80 annualized dividend and a dividend yield of 3.08%. Provident Financial Services’s dividend payout ratio (DPR) is 52.05%.

WARNING: “Credit Suisse AG Reduces Position in Provident Financial Services, Inc (PFS)” was first published by Daily Political and is the property of of Daily Political. If you are accessing this report on another website, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.dailypolitical.com/2017/08/07/credit-suisse-ag-reduces-position-in-provident-financial-services-inc-pfs.html.

A number of research analysts recently issued reports on PFS shares. ValuEngine upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, June 8th. BidaskClub downgraded shares of Provident Financial Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Sandler O’Neill upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $25.50 target price on shares of Provident Financial Services in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $26.90.

In related news, Director Carlos Hernandez sold 2,650 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $24.56, for a total value of $65,084.00. Following the completion of the sale, the director now owns 81,408 shares in the company, valued at $1,999,380.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by company insiders.

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.

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

Receive News & Ratings for Provident Financial Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.