Bank of New York Mellon Corp reduced its stake in Provident Financial Services, Inc. (NYSE:PFS) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 894,252 shares of the savings and loans company’s stock after selling 27,224 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.35% of Provident Financial Services worth $23,850,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in Provident Financial Services by 2.2% in the 3rd quarter. Rhumbline Advisers now owns 130,107 shares of the savings and loans company’s stock worth $3,470,000 after purchasing an additional 2,763 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in Provident Financial Services by 59.5% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 22,770 shares of the savings and loans company’s stock worth $607,000 after purchasing an additional 8,490 shares during the period. Sei Investments Co. raised its holdings in Provident Financial Services by 170.1% during the third quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock valued at $160,000 after acquiring an additional 3,796 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Provident Financial Services by 53.9% during the third quarter. BNP Paribas Arbitrage SA now owns 33,988 shares of the savings and loans company’s stock valued at $906,000 after acquiring an additional 11,899 shares during the period. Finally, Alps Advisors Inc. bought a new stake in Provident Financial Services during the third quarter valued at about $507,000. 63.97% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on the company. Sandler O’Neill cut Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. They noted that the move was a valuation call. Boenning Scattergood reissued a “hold” rating on shares of Provident Financial Services in a report on Friday, October 27th. Zacks Investment Research cut Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. ValuEngine raised Provident Financial Services from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Royal Bank of Canada reissued a “buy” rating and set a $30.00 price target on shares of Provident Financial Services in a report on Friday, September 8th. One 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 stock. The company currently has an average rating of “Hold” and an average price target of $27.80.

Provident Financial Services, Inc. (PFS) traded up $0.28 during trading hours on Thursday, reaching $27.15. The company’s stock had a trading volume of 270,900 shares, compared to its average volume of 194,570. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $1,810.00, a PE ratio of 17.80, a PEG ratio of 1.74 and a beta of 0.97. Provident Financial Services, Inc. has a twelve month low of $23.19 and a twelve month high of $28.92.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Friday, October 27th. The savings and loans company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. The firm had revenue of $85.32 million during the quarter, compared to analyst estimates of $83.84 million. Provident Financial Services had a return on equity of 7.61% and a net margin of 25.90%. During the same quarter last year, the business posted $0.36 earnings per share. research analysts forecast that Provident Financial Services, Inc. will post 1.54 EPS for the current year.

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, December 7th. This represents a dividend yield of 3.01%. Provident Financial Services’s payout ratio is 52.98%.

In other news, Director Frank L. Fekete sold 9,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $27.33, for a total transaction of $245,970.00. Following the completion of the transaction, the director now owns 48,903 shares in the company, valued at $1,336,518.99. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Laura L. Brooks sold 4,075 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $25.99, for a total value of $105,909.25. Following the transaction, the director now owns 62,905 shares of the company’s stock, valued at approximately $1,634,900.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,175 shares of company stock valued at $690,186. Company insiders own 2.90% of the company’s stock.

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Provident Financial Services 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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