Asset Management One Co. Ltd. bought a new position in Provident Financial Services, Inc. (NYSE:PFS – Get Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 44,179 shares of the savings and loans company's stock, valued at approximately $983,000. Asset Management One Co. Ltd. owned about 0.06% of Provident Financial Services as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. boosted its position in Provident Financial Services by 74.6% in the first quarter. Victory Capital Management Inc. now owns 582,005 shares of the savings and loans company's stock worth $12,880,000 after purchasing an additional 248,582 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Provident Financial Services during the 2nd quarter valued at about $495,000. Profund Advisors LLC purchased a new position in shares of Provident Financial Services during the 1st quarter valued at about $201,000. Versor Investments LP purchased a new position in shares of Provident Financial Services during the 2nd quarter valued at about $289,000. Finally, New York State Common Retirement Fund lifted its position in shares of Provident Financial Services by 16.4% during the 1st quarter. New York State Common Retirement Fund now owns 122,050 shares of the savings and loans company's stock valued at $2,856,000 after buying an additional 17,167 shares in the last quarter. 64.32% of the stock is owned by hedge funds and other institutional investors.
Get Provident Financial Services alerts:Provident Financial Services Stock Up 2.3 %
Shares of PFS opened at $20.61 on Friday. The business's 50 day moving average is $22.35 and its 200 day moving average is $22.56. The company has a market capitalization of $1.55 billion, a PE ratio of 9.86 and a beta of 0.93. Provident Financial Services, Inc. has a 12-month low of $19.18 and a 12-month high of $26.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.67.
Provident Financial Services (NYSE:PFS – Get Rating) last issued its earnings results on Friday, July 29th. The savings and loans company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. The company had revenue of $120.41 million for the quarter, compared to the consensus estimate of $120.12 million. Provident Financial Services had a return on equity of 9.59% and a net margin of 31.96%. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $0.58 EPS. Research analysts expect that Provident Financial Services, Inc. will post 2.29 earnings per share for the current fiscal year.Provident Financial Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Thursday, August 11th. Provident Financial Services's payout ratio is 45.93%.
Wall Street Analyst Weigh In
PFS has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on Provident Financial Services to $24.00 in a research report on Wednesday, October 5th. DA Davidson lowered their price objective on Provident Financial Services from $26.00 to $22.00 in a research report on Thursday, September 29th. StockNews.com assumed coverage on Provident Financial Services in a research report on Wednesday, October 12th. They set a "hold" rating on the stock. Finally, Royal Bank of Canada lifted their target price on Provident Financial Services from $29.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, August 1st.
About Provident Financial Services
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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. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.
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