SG Americas Securities LLC Sells 6,446 Shares of Provident Financial Services, Inc $PFS

SG Americas Securities LLC decreased its holdings in shares of Provident Financial Services, Inc (NYSE:PFS) by 25.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 18,466 shares of the savings and loans company’s stock after selling 6,446 shares during the period. SG Americas Securities LLC’s holdings in Provident Financial Services were worth $324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Leigh Baldwin & CO. LLC lifted its position in Provident Financial Services by 1.3% during the 1st quarter. Leigh Baldwin & CO. LLC now owns 49,643 shares of the savings and loans company’s stock worth $852,000 after buying an additional 645 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Provident Financial Services by 30.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,893 shares of the savings and loans company’s stock worth $50,000 after acquiring an additional 667 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Provident Financial Services by 3.9% during the second quarter. Teacher Retirement System of Texas now owns 18,828 shares of the savings and loans company’s stock valued at $330,000 after purchasing an additional 705 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Provident Financial Services by 1.6% in the second quarter. PNC Financial Services Group Inc. now owns 56,442 shares of the savings and loans company’s stock valued at $989,000 after purchasing an additional 894 shares in the last quarter. Finally, Sit Investment Associates Inc. increased its position in shares of Provident Financial Services by 1.8% during the 1st quarter. Sit Investment Associates Inc. now owns 50,025 shares of the savings and loans company’s stock worth $859,000 after purchasing an additional 900 shares during the last quarter. 71.97% of the stock is currently owned by institutional investors and hedge funds.

Provident Financial Services Stock Down 0.4%

Shares of PFS opened at $19.18 on Friday. The firm has a market cap of $2.51 billion, a P/E ratio of 9.79 and a beta of 0.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.03 and a current ratio of 1.03. Provident Financial Services, Inc has a 52 week low of $14.34 and a 52 week high of $21.62. The firm’s 50-day simple moving average is $18.90 and its 200 day simple moving average is $18.46.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Thursday, February 17th. The savings and loans company reported $0.68 earnings per share (EPS) for the quarter. Provident Financial Services had a net margin of 18.76% and a return on equity of 9.72%. The firm had revenue of $114.54 million during the quarter. On average, analysts forecast that Provident Financial Services, Inc will post 2.14 earnings per share for the current year.

Provident Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Friday, November 14th. Provident Financial Services’s dividend payout ratio is currently 48.98%.

Insider Buying and Selling at Provident Financial Services

In related news, EVP James A. Christy sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $19.90, for a total value of $59,700.00. Following the completion of the sale, the executive vice president directly owned 39,633 shares in the company, valued at approximately $788,696.70. The trade was a 7.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO George Lista sold 8,262 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $18.35, for a total value of $151,607.70. Following the sale, the chief executive officer owned 108,656 shares of the company’s stock, valued at approximately $1,993,837.60. The trade was a 7.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 36,262 shares of company stock valued at $709,058 in the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PFS has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Provident Financial Services in a report on Wednesday, October 8th. Zacks Research cut shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, DA Davidson lowered Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.70.

Provident Financial Services Company Profile

Provident Financial Services, Inc operates as the bank holding company for Provident Bank that provides various banking products and 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 products.