Systematic Financial Management LP Buys 87,612 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Systematic Financial Management LP boosted its stake in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,976,235 shares of the savings and loans company's stock after buying an additional 87,612 shares during the quarter. Provident Financial Services makes up approximately 0.9% of Systematic Financial Management LP's portfolio, making the stock its 28th biggest position. Systematic Financial Management LP owned 1.51% of Provident Financial Services worth $37,292,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Barclays PLC boosted its holdings in Provident Financial Services by 39.8% in the third quarter. Barclays PLC now owns 316,953 shares of the savings and loans company's stock valued at $5,883,000 after acquiring an additional 90,238 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Provident Financial Services by 23.2% in the 4th quarter. JPMorgan Chase & Co. now owns 980,654 shares of the savings and loans company's stock worth $18,505,000 after purchasing an additional 184,799 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Provident Financial Services by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,825,993 shares of the savings and loans company's stock worth $34,456,000 after purchasing an additional 33,201 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Provident Financial Services in the 4th quarter valued at $513,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Provident Financial Services during the fourth quarter worth $5,026,000. Institutional investors own 71.97% of the company's stock.

Provident Financial Services Stock Down 0.3%

NYSE:PFS traded down $0.05 on Tuesday, hitting $17.30. The stock had a trading volume of 380,520 shares, compared to its average volume of 759,615. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.95. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $22.24. The business's fifty day moving average is $16.57 and its 200 day moving average is $18.37. The company has a market cap of $2.26 billion, a PE ratio of 16.48 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 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 company had revenue of $208.76 million for the quarter, compared to analyst estimates of $206.86 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Provident Financial Services's revenue for the quarter was up 82.4% on a year-over-year basis. On average, equities research analysts expect that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The firm 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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend is Friday, May 16th. Provident Financial Services's dividend payout ratio is currently 86.49%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com raised shares of Provident Financial Services from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. 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. Finally, Royal Bank of Canada lowered their target price on 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Provident Financial Services currently has a consensus rating of "Moderate Buy" and an average price target of $24.25.

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.