Provident Financial Services, Inc. (NYSE:PFS) Shares Sold by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp decreased its stake in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 20.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,000 shares of the savings and loans company's stock after selling 50,000 shares during the quarter. Provident Financial Services makes up 1.9% of Mendon Capital Advisors Corp's portfolio, making the stock its 17th largest position. Mendon Capital Advisors Corp owned 0.15% of Provident Financial Services worth $3,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in PFS. Barclays PLC grew its position in shares of Provident Financial Services by 39.8% during the 3rd quarter. Barclays PLC now owns 316,953 shares of the savings and loans company's stock worth $5,883,000 after buying an additional 90,238 shares in the last quarter. Geode Capital Management LLC grew its holdings in Provident Financial Services by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,947,394 shares of the savings and loans company's stock worth $54,715,000 after acquiring an additional 53,943 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in Provident Financial Services by 10.6% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 20,530 shares of the savings and loans company's stock valued at $381,000 after purchasing an additional 1,973 shares during the period. JPMorgan Chase & Co. increased its position in Provident Financial Services by 55.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 795,855 shares of the savings and loans company's stock valued at $14,771,000 after purchasing an additional 283,879 shares during the period. Finally, Oliver Luxxe Assets LLC raised its holdings in shares of Provident Financial Services by 3.2% in the 4th quarter. Oliver Luxxe Assets LLC now owns 88,712 shares of the savings and loans company's stock valued at $1,674,000 after purchasing an additional 2,762 shares in the last quarter. 71.97% of the stock is owned by hedge funds and other institutional investors.

Provident Financial Services Stock Down 2.1 %

NYSE:PFS traded down $0.36 during midday trading on Friday, reaching $16.52. 1,087,675 shares of the stock traded hands, compared to its average volume of 843,282. The stock has a market capitalization of $2.16 billion, a PE ratio of 15.73 and a beta of 0.84. Provident Financial Services, Inc. has a 12-month low of $13.07 and a 12-month high of $22.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50-day moving average of $16.71 and a two-hundred day moving average of $18.59.

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 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $206.86 million. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 5.81%. The ex-dividend date is Friday, May 16th. Provident Financial Services's payout ratio is currently 86.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PFS. Royal Bank of Canada cut their price objective on shares of Provident Financial Services from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. StockNews.com upgraded Provident Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, February 15th. One 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 stock presently has an average rating of "Moderate Buy" and an average price target of $24.00.

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.