BNP Paribas Financial Markets Sells 37,679 Shares of Provident Financial Services, Inc. (NYSE:PFS)

BNP Paribas Financial Markets cut its stake in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 57.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,603 shares of the savings and loans company's stock after selling 37,679 shares during the period. BNP Paribas Financial Markets' holdings in Provident Financial Services were worth $521,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PFS. Barclays PLC grew its stake in shares of Provident Financial Services by 39.8% during the third quarter. Barclays PLC now owns 316,953 shares of the savings and loans company's stock valued at $5,883,000 after purchasing an additional 90,238 shares during the last quarter. JPMorgan Chase & Co. increased its position in Provident Financial Services by 23.2% in the fourth quarter. JPMorgan Chase & Co. now owns 980,654 shares of the savings and loans company's stock worth $18,505,000 after purchasing an additional 184,799 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Provident Financial Services by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,825,993 shares of the savings and loans company's stock worth $34,456,000 after buying an additional 33,201 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Provident Financial Services during the fourth quarter worth approximately $513,000. Finally, Thrivent Financial for Lutherans grew its holdings in Provident Financial Services by 54.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 158,433 shares of the savings and loans company's stock worth $2,990,000 after acquiring an additional 55,964 shares during the period. Institutional investors and hedge funds own 71.97% of the company's stock.

Provident Financial Services Stock Up 2.4%

PFS traded up $0.39 during trading on Tuesday, reaching $16.89. 383,151 shares of the stock were exchanged, compared to its average volume of 748,191. The stock has a market cap of $2.20 billion, a P/E ratio of 16.09 and a beta of 0.84. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.01. The stock's 50 day moving average price is $16.53 and its two-hundred day moving average price is $18.25. Provident Financial Services, Inc. has a twelve month low of $13.07 and a twelve month high of $22.24.

Provident Financial Services (NYSE:PFS - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. Provident Financial Services had a return on equity of 5.60% and a net margin of 10.13%. The firm had revenue of $208.76 million for the quarter, compared to analyst estimates of $206.86 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. The business's revenue for the quarter was up 82.4% compared to the same quarter last year. Equities analysts expect that Provident Financial Services, Inc. will post 2.14 EPS for the current year.

Provident Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be paid a $0.24 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.96 dividend on an annualized basis and a yield of 5.68%. Provident Financial Services's dividend payout ratio (DPR) is currently 86.49%.

Wall Street Analyst Weigh In

PFS has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Provident Financial Services from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Royal Bank of Canada decreased their price target on shares of Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Thursday, January 30th. Finally, Wall Street Zen raised shares of Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, February 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Provident Financial Services currently has an average rating of "Moderate Buy" and a consensus price target of $24.25.

Provident Financial Services 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.