UBS Asset Management Americas Inc. boosted its position in Provident Financial Services, Inc. (NYSE:PFS) by 24.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 45,511 shares of the savings and loans company’s stock after buying an additional 8,919 shares during the period. UBS Asset Management Americas Inc.’s holdings in Provident Financial Services were worth $1,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of PFS. Nisa Investment Advisors LLC grew its position in Provident Financial Services by 66.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,990 shares of the savings and loans company’s stock valued at $135,000 after buying an additional 2,000 shares during the last quarter. Sei Investments Co. grew its position in Provident Financial Services by 170.1% in the 3rd quarter. Sei Investments Co. now owns 6,028 shares of the savings and loans company’s stock valued at $160,000 after buying an additional 3,796 shares during the last quarter. Calton & Associates Inc. purchased a new position in Provident Financial Services in the 4th quarter valued at $190,000. Telemus Capital LLC purchased a new position in Provident Financial Services in the 4th quarter valued at $206,000. Finally, CIBC Asset Management Inc purchased a new position in Provident Financial Services in the 4th quarter valued at $217,000. Hedge funds and other institutional investors own 66.32% of the company’s stock.

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A number of equities analysts recently weighed in on the stock. Sandler O’Neill lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. They noted that the move was a valuation call. ValuEngine upgraded shares of Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Piper Jaffray Companies reiterated a “hold” rating and issued a $28.00 price objective on shares of Provident Financial Services in a research report on Tuesday, January 9th. Boenning Scattergood reiterated a “hold” rating on shares of Provident Financial Services in a research report on Monday, January 29th. Finally, Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.42.

In other Provident Financial Services news, Director Edward Odonnell sold 5,000 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $25.40, for a total transaction of $127,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by insiders.

Shares of Provident Financial Services, Inc. (PFS) opened at $25.65 on Friday. The company has a market cap of $1,764.64, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96. Provident Financial Services, Inc. has a 1 year low of $23.19 and a 1 year high of $28.76. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.12.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Friday, January 26th. The savings and loans company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $85.20 million for the quarter, compared to analysts’ expectations of $85.36 million. Provident Financial Services had a return on equity of 7.61% and a net margin of 24.75%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. sell-side analysts predict that Provident Financial Services, Inc. will post 1.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.12%. Provident Financial Services’s payout ratio is currently 54.79%.

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Provident Financial Services Profile

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.

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

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