Alps Advisors Inc. purchased a new stake in Provident Financial Services, Inc (NYSE:PFS) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,011 shares of the savings and loans company’s stock, valued at approximately $507,000.

Several other large investors have also made changes to their positions in the stock. Prudential Financial Inc. lifted its holdings in shares of Provident Financial Services by 10.8% in the 3rd quarter. Prudential Financial Inc. now owns 483,825 shares of the savings and loans company’s stock valued at $12,904,000 after acquiring an additional 47,080 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Provident Financial Services in the 3rd quarter worth about $298,000. Kistler Tiffany Companies LLC purchased a new stake in Provident Financial Services in the 3rd quarter worth about $1,662,000. Assenagon Asset Management S.A. purchased a new stake in Provident Financial Services in the 3rd quarter worth about $1,807,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in Provident Financial Services in the 2nd quarter worth about $333,000. 61.50% of the stock is owned by hedge funds and other institutional investors.

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Provident Financial Services, Inc (NYSE:PFS) opened at $26.55 on Friday. The company has a market cap of $1,743.04, a P/E ratio of 17.36, a PEG ratio of 1.70 and a beta of 0.99. Provident Financial Services, Inc has a 1 year low of $23.19 and a 1 year high of $28.92. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.08 and a current ratio of 1.08.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Friday, October 27th. The savings and loans company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The business had revenue of $85.32 million for the quarter, compared to analyst estimates 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 period last year, the company posted $0.36 earnings per share. research analysts anticipate that Provident Financial Services, Inc will post 1.54 EPS for the current year.

The business also recently announced a special dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be given a dividend of $0.15 per share. 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 presently 52.98%.

In other news, Director Laura L. Brooks sold 4,075 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $25.99, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward Odonnell sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $27.30, for a total transaction of $81,900.00. Following the transaction, the director now directly owns 91,335 shares in the company, valued at $2,493,445.50. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

A number of research firms recently weighed in on PFS. ValuEngine lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $28.50 price objective on shares of Provident Financial Services in a research report on Wednesday, November 1st. Boenning Scattergood reissued a “hold” rating on shares of Provident Financial Services in a research report on Friday, October 27th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $30.00 price objective on shares of Provident Financial Services in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.80.

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

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