Trexquant Investment LP Has $979,000 Stock Position in Provident Financial Services, Inc. (NYSE:PFS)

Trexquant Investment LP lowered its position in shares of Provident Financial Services, Inc. (NYSE:PFS - Free Report) by 58.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 51,867 shares of the savings and loans company's stock after selling 73,212 shares during the period. Trexquant Investment LP's holdings in Provident Financial Services were worth $979,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PFS. PL Capital Advisors LLC increased its holdings in shares of Provident Financial Services by 1,787.0% during the fourth 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 purchasing an additional 2,399,351 shares during the period. Wellington Management Group LLP raised its position in shares of Provident Financial Services by 13,182.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,854,596 shares of the savings and loans company's stock worth $34,421,000 after buying an additional 1,840,633 shares in the last quarter. State Street Corp boosted its holdings in shares of Provident Financial Services by 10.2% in the third quarter. State Street Corp now owns 7,683,467 shares of the savings and loans company's stock valued at $142,605,000 after acquiring an additional 713,688 shares in the last quarter. Norges Bank bought a new stake in Provident Financial Services during the fourth quarter worth approximately $7,225,000. Finally, Raymond James Financial Inc. acquired a new stake in Provident Financial Services in the fourth quarter worth approximately $6,994,000. Institutional investors and hedge funds own 71.97% of the company's stock.

Provident Financial Services Stock Down 0.1 %

Shares of PFS traded down $0.02 during trading hours on Wednesday, reaching $15.33. The company's stock had a trading volume of 103,957 shares, compared to its average volume of 843,167. The company has a 50 day moving average of $17.19 and a two-hundred day moving average of $18.70. Provident Financial Services, Inc. has a 1-year low of $13.07 and a 1-year high of $22.24. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 14.53 and a beta of 0.84. 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 (NYSE:PFS - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.13). Provident Financial Services had a net margin of 10.13% and a return on equity of 5.60%. As a group, research analysts predict that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date was Friday, February 14th. Provident Financial Services's dividend payout ratio (DPR) is 91.43%.

Wall Street Analysts Forecast Growth

PFS has been the subject of several research reports. StockNews.com raised Provident Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, February 15th. Royal Bank of Canada reduced their target price 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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.00.

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.