Provident Financial Services, Inc. (NYSE:PFS) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its position in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 72.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,353 shares of the savings and loans company's stock after purchasing an additional 17,000 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Provident Financial Services were worth $761,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PFS. Federated Hermes Inc. acquired a new stake in shares of Provident Financial Services during the 4th quarter worth about $55,000. Sterling Capital Management LLC boosted its position in Provident Financial Services by 805.9% during the fourth quarter. Sterling Capital Management LLC now owns 3,968 shares of the savings and loans company's stock worth $75,000 after acquiring an additional 3,530 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Provident Financial Services in the 4th quarter worth approximately $99,000. KBC Group NV raised its holdings in Provident Financial Services by 40.7% in the 4th quarter. KBC Group NV now owns 6,387 shares of the savings and loans company's stock valued at $121,000 after acquiring an additional 1,848 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Provident Financial Services by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,533 shares of the savings and loans company's stock worth $142,000 after purchasing an additional 4,408 shares during the period. 71.97% of the stock is currently owned by institutional investors and hedge funds.

Provident Financial Services Stock Performance

PFS traded up $0.44 on Friday, hitting $17.13. 562,861 shares of the company's stock were exchanged, compared to its average volume of 844,307. 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 fifty day moving average of $16.56 and a two-hundred day moving average of $18.51. 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 cap of $2.24 billion, a PE ratio of 16.31 and a beta of 0.84.

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, 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 in the prior year, the business earned $0.43 EPS. The firm's revenue was up 82.4% on a year-over-year basis. On average, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, May 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.60%. Provident Financial Services's dividend payout ratio (DPR) is 86.49%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PFS. 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 price target on Provident Financial Services from $23.00 to $22.00 and set an "outperform" rating for the company in a 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 on the stock in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.