Victory Capital Management Inc. cut its holdings in shares of Provident Financial Services, Inc (NYSE:PFS) by 66.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,609 shares of the savings and loans company’s stock after selling 21,046 shares during the period. Victory Capital Management Inc.’s holdings in Provident Financial Services were worth $283,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PFS. Schwab Charles Investment Management Inc. grew its stake in shares of Provident Financial Services by 7.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 301,721 shares of the savings and loans company’s stock valued at $7,800,000 after acquiring an additional 21,075 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Provident Financial Services by 46.1% during the first quarter. Bank of America Corp DE now owns 189,041 shares of the savings and loans company’s stock valued at $4,887,000 after acquiring an additional 59,678 shares in the last quarter. State Street Corp grew its stake in shares of Provident Financial Services by 2.3% during the first quarter. State Street Corp now owns 1,473,022 shares of the savings and loans company’s stock valued at $38,075,000 after acquiring an additional 33,602 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Provident Financial Services by 79.6% during the second quarter. State of Alaska Department of Revenue now owns 11,980 shares of the savings and loans company’s stock valued at $304,000 after acquiring an additional 5,310 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Provident Financial Services by 0.4% during the second quarter. Louisiana State Employees Retirement System now owns 24,700 shares of the savings and loans company’s stock valued at $627,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 61.68% of the company’s stock.

Shares of Provident Financial Services, Inc (PFS) traded down $0.05 during mid-day trading on Friday, hitting $26.85. 237,512 shares of the stock traded hands, compared to its average volume of 296,625. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.19. Provident Financial Services, Inc has a twelve month low of $23.19 and a twelve month high of $28.92. The company has a market capitalization of $1,784.91, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.74 and a beta of 0.99.

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

The business also recently declared 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 Laura L. Brooks sold 4,075 shares of the stock in a transaction dated 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 owns 62,905 shares of the company’s stock, valued at $1,634,900.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward Odonnell sold 3,000 shares of the stock in a transaction dated 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 approximately $2,493,445.50. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Several analysts have recently weighed in on PFS shares. DA Davidson started coverage on Provident Financial Services in a research note on Friday, September 1st. They set a “neutral” rating and a $25.00 target price for the company. Zacks Investment Research upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, November 1st. Keefe, Bruyette & Woods restated a “hold” rating and set a $28.50 target price on shares of Provident Financial Services in a research note on Wednesday, November 1st. Royal Bank Of Canada restated a “buy” rating and set a $30.00 target price on shares of Provident Financial Services in a research note on Friday, September 8th. Finally, BidaskClub downgraded Provident Financial Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $27.80.

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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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