Private Advisor Group LLC purchased a new position in shares of Provident Financial Services, Inc. (NYSE:PFS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,316 shares of the savings and loans company’s stock, valued at approximately $232,000.

Other large investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. bought a new position in Provident Financial Services during the first quarter worth about $129,000. KBC Group NV acquired a new stake in Provident Financial Services during the second quarter worth about $174,000. NEXT Financial Group Inc acquired a new stake in Provident Financial Services during the first quarter worth about $208,000. SG Americas Securities LLC acquired a new stake in Provident Financial Services during the first quarter worth about $228,000. Finally, GW&K Investment Management LLC grew its stake in Provident Financial Services by 39.7% during the first quarter. GW&K Investment Management LLC now owns 12,090 shares of the savings and loans company’s stock worth $309,000 after buying an additional 3,435 shares in the last quarter. 65.15% of the stock is currently owned by institutional investors and hedge funds.

PFS opened at $24.85 on Friday. Provident Financial Services, Inc. has a 1-year low of $23.26 and a 1-year high of $29.12. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $1.68 billion, a PE ratio of 16.65, a P/E/G ratio of 1.90 and a beta of 0.78.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, July 27th. The savings and loans company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.15). Provident Financial Services had a net margin of 23.56% and a return on equity of 7.46%. The company had revenue of $88.12 million during the quarter, compared to analyst estimates of $87.99 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. analysts expect that Provident Financial Services, Inc. will post 1.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th were paid a $0.21 dividend. This is an increase from Provident Financial Services’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Tuesday, August 14th. Provident Financial Services’s dividend payout ratio (DPR) is presently 55.26%.

In related news, Director Matthew K. Harding purchased 1,000 shares of Provident Financial Services stock in a transaction dated Friday, August 3rd. The shares were bought at an average cost of $25.73 per share, for a total transaction of $25,730.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.00% of the company’s stock.

A number of brokerages have issued reports on PFS. Sandler O’Neill reiterated a “hold” rating on shares of Provident Financial Services in a research note on Thursday, June 28th. Boenning Scattergood reiterated a “hold” rating on shares of Provident Financial Services in a research note on Friday, July 27th. Zacks Investment Research downgraded shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, June 28th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $25.50 price objective on shares of Provident Financial Services in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Provident Financial Services has an average rating of “Hold” and an average price target of $28.25.

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.

See Also: Index Funds

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

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