Two Sigma Advisers LP Lowers Holdings in Provident Financial Services, Inc. (NYSE:PFS)

Two Sigma Advisers LP reduced its stake in Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 281,884 shares of the savings and loans company's stock after selling 37,600 shares during the period. Two Sigma Advisers LP owned approximately 0.22% of Provident Financial Services worth $5,319,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PFS. PL Capital Advisors LLC raised its stake in shares of Provident Financial Services by 1,787.0% in the 4th 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 acquiring an additional 2,399,351 shares during the period. Leigh Baldwin & CO. LLC acquired a new stake in Provident Financial Services in the 4th quarter valued at approximately $17,447,000. Norges Bank purchased a new stake in Provident Financial Services in the fourth quarter valued at approximately $7,225,000. Raymond James Financial Inc. acquired a new position in Provident Financial Services during the fourth quarter worth $6,994,000. Finally, Invesco Ltd. boosted its position 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 buying an additional 240,522 shares during the period. Institutional investors and hedge funds own 71.97% of the company's stock.

Provident Financial Services Stock Down 1.7%

PFS traded down $0.29 on Wednesday, hitting $16.60. 363,180 shares of the company were exchanged, compared to its average volume of 746,657. The firm has a 50-day moving average price of $16.52 and a two-hundred day moving average price of $18.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.95. Provident Financial Services, Inc. has a twelve month low of $13.07 and a twelve month high of $22.24. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 15.81 and a beta of 0.84.

Provident Financial Services (NYSE:PFS - Get Free Report) last issued its earnings results 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. The business had revenue of $208.76 million during the quarter, compared to analysts' expectations of $206.86 million. Provident Financial Services had a net margin of 10.13% and a return on equity of 5.60%. The company's revenue for the quarter was up 82.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 EPS. On average, equities analysts predict that Provident Financial Services, Inc. will post 2.14 earnings per share for the current year.

Provident Financial Services Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, May 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.78%. Provident Financial Services's payout ratio is 86.49%.

Wall Street Analyst Weigh In

PFS has been the topic of several research reports. Wall Street Zen raised Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, February 15th. Keefe, Bruyette & Woods reduced their price target on shares of Provident Financial Services from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, Royal Bank of Canada dropped their price objective 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.