UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 43,849 Shares of Provident Financial Services, Inc. (NYSE:PFS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 22.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,627 shares of the savings and loans company's stock after buying an additional 43,849 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of Provident Financial Services worth $4,560,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in 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 worth $5,883,000 after purchasing an additional 90,238 shares during the last quarter. KBC Group NV lifted its stake in Provident Financial Services by 40.7% during the fourth quarter. KBC Group NV now owns 6,387 shares of the savings and loans company's stock worth $121,000 after purchasing an additional 1,848 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in Provident Financial Services by 105.8% during the fourth quarter. Apollon Wealth Management LLC now owns 25,581 shares of the savings and loans company's stock worth $483,000 after purchasing an additional 13,151 shares during the last quarter. Empowered Funds LLC lifted its stake in Provident Financial Services by 5.2% during the fourth quarter. Empowered Funds LLC now owns 264,933 shares of the savings and loans company's stock worth $4,999,000 after purchasing an additional 13,188 shares during the last quarter. Finally, Savant Capital LLC lifted its stake in 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 worth $206,000 after purchasing an additional 664 shares during the last quarter. Institutional investors and hedge funds own 71.97% of the company's stock.

Provident Financial Services Trading Up 1.5%

Provident Financial Services stock traded up $0.24 during trading hours on Friday, reaching $16.74. 628,909 shares of the company's stock were exchanged, compared to its average volume of 728,168. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.95. The firm's 50 day simple moving average is $16.44 and its 200 day simple moving average is $17.99. Provident Financial Services, Inc. has a twelve month low of $13.07 and a twelve month high of $22.24. The firm has a market capitalization of $2.19 billion, a PE ratio of 15.95 and a beta of 0.86.

Provident Financial Services (NYSE:PFS - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The savings and loans company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $206.86 million. During the same period last year, the business posted $0.43 EPS. The business's revenue was up 82.4% compared to the same quarter last year. Research analysts predict that Provident Financial Services, Inc. will post 2.14 earnings per share for the current year.

Provident Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.96 dividend on an annualized basis and a yield of 5.73%. Provident Financial Services's payout ratio is currently 86.49%.

Analyst Ratings Changes

PFS has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price target 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 Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, February 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.