Today: California Public Employees Retirement System decides to keep it stake in Provident Financial Services Inc. (PFS) to the level of $4,345,000

Today: California Public Employees Retirement System decides to keep it stake in Provident Financial Services Inc. (PFS) to the level of $4,345,000

California Public Employees Retirement System lowered its stake in Provident Financial Services Inc. (NYSE:PFS) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 204,673 shares of the company’s stock after selling 10,100 shares during the period. California Public Employees Retirement System’s holdings in Provident Financial Services were worth $4,345,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. 1st Global Advisors Inc. raised its position in shares of Provident Financial Services by 0.4% in the second quarter. 1st Global Advisors Inc. now owns 14,010 shares of the company’s stock valued at $275,000 after buying an additional 54 shares in the last quarter. MSI Financial Services Inc increased its stake in shares of Provident Financial Services by 0.9% in the third quarter. MSI Financial Services Inc now owns 6,738 shares of the company’s stock worth $143,000 after buying an additional 57 shares during the last quarter. PineBridge Investments L.P. increased its stake in shares of Provident Financial Services by 3.7% in the second quarter. PineBridge Investments L.P. now owns 7,502 shares of the company’s stock worth $147,000 after buying an additional 268 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Provident Financial Services by 1.3% in the second quarter. Arizona State Retirement System now owns 30,718 shares of the company’s stock worth $603,000 after buying an additional 400 shares during the last quarter. Finally, Beacon Trust Co. increased its stake in shares of Provident Financial Services by 0.3% in the second quarter. Beacon Trust Co. now owns 139,518 shares of the company’s stock worth $2,740,000 after buying an additional 442 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

Shares of Provident Financial Services Inc. (NYSE:PFS) traded down 0.59% during mid-day trading on Monday, hitting $27.04. The stock had a trading volume of 279,188 shares. Provident Financial Services Inc. has a 1-year low of $17.71 and a 1-year high of $27.26. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 19.88 and a beta of 0.91. The stock’s 50-day moving average is $23.23 and its 200 day moving average is $21.05.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Friday, October 28th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Provident Financial Services had a net margin of 24.37% and a return on equity of 7.10%. During the same period last year, the firm earned $0.33 earnings per share. Equities research analysts predict that Provident Financial Services Inc. will post $1.39 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 15th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.72 annualized dividend and a yield of 2.66%. Provident Financial Services’s dividend payout ratio (DPR) is presently 52.55%.

PFS has been the subject of a number of recent analyst reports. Sandler O’Neill downgraded Provident Financial Services from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a report on Tuesday, September 13th. Zacks Investment Research upgraded Provident Financial Services from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Thursday, November 3rd.

In related news, EVP Donald W. Blum sold 14,040 shares of the company’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $21.49, for a total value of $301,719.60. Following the completion of the transaction, the executive vice president now directly owns 74,686 shares in the company, valued at $1,605,002.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jack Novielli sold 15,593 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $21.48, for a total transaction of $334,937.64. Following the completion of the transaction, the executive vice president now owns 14,488 shares of the company’s stock, valued at $311,202.24. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by corporate insiders.

Provident Financial Services Company Profile

Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.

Related posts

Leave a Comment