Provident Financial Services, Inc. (NYSE:PFS) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG grew its holdings in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 27.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,830 shares of the savings and loans company's stock after purchasing an additional 21,993 shares during the period. Deutsche Bank AG owned approximately 0.08% of Provident Financial Services worth $1,922,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. PL Capital Advisors LLC grew its position in Provident Financial Services by 1,787.0% during the fourth quarter. PL Capital Advisors LLC now owns 2,533,618 shares of the savings and loans company's stock valued at $47,809,000 after purchasing an additional 2,399,351 shares in the last quarter. Norges Bank bought a new stake in Provident Financial Services during the fourth quarter worth about $7,225,000. Raymond James Financial Inc. bought a new position in Provident Financial Services in the fourth quarter valued at about $6,994,000. Invesco Ltd. grew its stake in shares of Provident Financial Services by 37.7% during the fourth quarter. Invesco Ltd. now owns 878,493 shares of the savings and loans company's stock worth $16,577,000 after purchasing an additional 240,522 shares during the period. Finally, Basswood Capital Management L.L.C. grew its stake in Provident Financial Services by 23.8% in the fourth quarter. Basswood Capital Management L.L.C. now owns 1,105,103 shares of the savings and loans company's stock valued at $20,853,000 after acquiring an additional 212,395 shares during the period. 71.97% of the stock is owned by institutional investors and hedge funds.

Provident Financial Services Price Performance

Shares of Provident Financial Services stock traded down $0.19 on Wednesday, hitting $16.70. 115,387 shares of the company traded hands, compared to its average volume of 745,706. The stock has a market capitalization of $2.18 billion, a P/E ratio of 15.95 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. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $22.24. The business has a 50-day simple moving average of $16.53 and a 200 day simple moving average of $18.25.

Provident Financial Services (NYSE:PFS - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.50 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 company had revenue of $208.76 million for the quarter, compared to the consensus estimate of $206.86 million. During the same quarter in the prior year, the company posted $0.43 EPS. Provident Financial Services's quarterly revenue was up 82.4% on a year-over-year basis. Research analysts expect that Provident Financial Services, Inc. will post 2.14 earnings per share for the current fiscal year.

Provident Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a $0.24 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.96 annualized dividend and a dividend yield of 5.75%. Provident Financial Services's dividend payout ratio (DPR) is presently 86.49%.

Wall Street Analysts Forecast Growth

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

About Provident Financial Services

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.