Rhumbline Advisers Has $6.44 Million Holdings in Provident Financial Services, Inc. (NYSE:PFS)

Rhumbline Advisers reduced its holdings in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 375,196 shares of the savings and loans company's stock after selling 17,404 shares during the quarter. Rhumbline Advisers owned about 0.29% of Provident Financial Services worth $6,442,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PFS. Savant Capital LLC lifted its holdings in shares of Provident Financial Services by 6.5% during the fourth quarter. Savant Capital LLC now owns 10,931 shares of the savings and loans company's stock valued at $206,000 after acquiring an additional 664 shares during the period. Pictet Asset Management Holding SA increased its position in Provident Financial Services by 5.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,240 shares of the savings and loans company's stock worth $269,000 after purchasing an additional 704 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Provident Financial Services by 5.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,172 shares of the savings and loans company's stock valued at $249,000 after acquiring an additional 714 shares during the last quarter. Foundry Partners LLC lifted its stake in Provident Financial Services by 0.4% in the fourth quarter. Foundry Partners LLC now owns 191,748 shares of the savings and loans company's stock valued at $3,618,000 after buying an additional 730 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Provident Financial Services by 6.1% during the 4th quarter. CIBC Asset Management Inc now owns 13,422 shares of the savings and loans company's stock worth $253,000 after acquiring an additional 772 shares during the last quarter. Institutional investors own 71.97% of the company's stock.

Provident Financial Services Stock Performance

Shares of PFS traded down $0.14 during mid-day trading on Thursday, reaching $16.94. The company's stock had a trading volume of 415,876 shares, compared to its average volume of 724,646. Provident Financial Services, Inc. has a 1-year low of $13.07 and a 1-year high of $22.24. The business has a 50-day simple moving average of $16.51 and a two-hundred day simple moving average of $17.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. The stock has a market cap of $2.21 billion, a P/E ratio of 16.13 and a beta of 0.86.

Provident Financial Services (NYSE:PFS - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The savings and loans company reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The company had revenue of $208.76 million during the quarter, compared to analysts' expectations of $206.86 million. Provident Financial Services had a return on equity of 5.60% and a net margin of 10.13%. The business's revenue was up 82.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. As a group, equities research analysts anticipate that Provident Financial Services, Inc. will post 2.14 earnings per share for the current fiscal year.

Provident Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.67%. Provident Financial Services's payout ratio is 86.49%.

Analyst Ratings Changes

A number of research firms have issued reports on PFS. Keefe, Bruyette & Woods decreased their target price on Provident Financial Services from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Wall Street Zen upgraded shares of Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, February 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.