J.W. Cole Advisors Inc. bought a new position in shares of Provident Financial Services, Inc. (NYSE:PFS – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,218 shares of the savings and loans company’s stock, valued at approximately $171,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. raised its holdings in Provident Financial Services by 35.7% during the first quarter. Advisor Group Holdings Inc. now owns 1,785 shares of the savings and loans company’s stock worth $42,000 after purchasing an additional 470 shares in the last quarter. KBC Group NV raised its holdings in Provident Financial Services by 97.3% during the first quarter. KBC Group NV now owns 7,597 shares of the savings and loans company’s stock worth $178,000 after purchasing an additional 3,746 shares in the last quarter. Profund Advisors LLC bought a new stake in Provident Financial Services during the first quarter worth approximately $201,000. Midwest Professional Planners LTD. bought a new position in shares of Provident Financial Services in the first quarter valued at $202,000. Finally, Aigen Investment Management LP bought a new position in shares of Provident Financial Services in the first quarter valued at $216,000. Institutional investors own 64.32% of the company’s stock.
Provident Financial Services Trading Down 0.3 %
NYSE PFS opened at $23.69 on Thursday. Provident Financial Services, Inc. has a twelve month low of $21.28 and a twelve month high of $26.20. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 11.33 and a beta of 0.88. The firm’s 50 day moving average price is $23.75 and its two-hundred day moving average price is $23.01.
Provident Financial Services Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, August 11th. Provident Financial Services’s payout ratio is 45.93%.
Analysts Set New Price Targets
Several research analysts have issued reports on PFS shares. DA Davidson reaffirmed a “neutral” rating on shares of Provident Financial Services in a report on Wednesday, July 27th. Royal Bank of Canada upped their price target on Provident Financial Services from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, August 1st. Finally, Piper Sandler cut Provident Financial Services from an “overweight” rating to a “neutral” rating and set a $26.00 price target on the stock. in a report on Friday, August 19th.
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. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.
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