Jane Street Group LLC Acquires 35,579 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Jane Street Group LLC boosted its holdings in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 65.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,929 shares of the savings and loans company's stock after acquiring an additional 35,579 shares during the period. Jane Street Group LLC owned 0.07% of Provident Financial Services worth $1,697,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Aquatic Capital Management LLC purchased a new position in Provident Financial Services in the fourth quarter worth about $46,000. Federated Hermes Inc. purchased a new position in Provident Financial Services in the fourth quarter worth about $55,000. Sterling Capital Management LLC raised its holdings in Provident Financial Services by 805.9% in the fourth quarter. Sterling Capital Management LLC now owns 3,968 shares of the savings and loans company's stock worth $75,000 after buying an additional 3,530 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Provident Financial Services in the fourth quarter worth about $99,000. Finally, KBC Group NV raised its holdings in Provident Financial Services by 40.7% in the fourth quarter. KBC Group NV now owns 6,387 shares of the savings and loans company's stock worth $121,000 after buying an additional 1,848 shares during the last quarter. 71.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PFS. Keefe, Bruyette & Woods decreased their target price 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. Wall Street Zen raised shares of Provident Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, February 15th. 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 for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Provident Financial Services has an average rating of "Moderate Buy" and an average price target of $24.25.

Provident Financial Services Stock Performance

Shares of PFS stock traded down $0.17 during trading hours on Friday, reaching $16.52. The company had a trading volume of 459,157 shares, compared to its average volume of 750,625. The business has a fifty day moving average price of $16.54 and a 200-day moving average price of $18.33. Provident Financial Services, Inc. has a one year low of $13.07 and a one year high of $22.24. The firm has a market cap of $2.16 billion, a PE ratio of 15.73 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 (NYSE:PFS - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. Provident Financial Services had a net margin of 10.13% and a return on equity of 5.60%. The firm had revenue of $208.76 million during the quarter, compared to analyst estimates of $206.86 million. During the same period in the previous year, the business posted $0.43 earnings per share. The business's revenue for the quarter was up 82.4% on a year-over-year basis. Sell-side analysts predict that Provident Financial Services, Inc. will post 2.14 earnings per share for the current fiscal year.

Provident Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders 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 dividend yield of 5.81%. Provident Financial Services's dividend payout ratio is presently 86.49%.

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.