Dupont Capital Management Corp Sells 7,175 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Dupont Capital Management Corp trimmed its position in shares of Provident Financial Services, Inc. (NYSE:PFSGet Rating) by 28.1% during the third quarter, HoldingsChannel reports. The firm owned 18,318 shares of the savings and loans company’s stock after selling 7,175 shares during the quarter. Dupont Capital Management Corp’s holdings in Provident Financial Services were worth $357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFS. Invesco Ltd. boosted its position in shares of Provident Financial Services by 60.2% during the first quarter. Invesco Ltd. now owns 1,073,084 shares of the savings and loans company’s stock worth $25,110,000 after purchasing an additional 403,067 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Provident Financial Services by 17.8% during the second quarter. Principal Financial Group Inc. now owns 2,040,546 shares of the savings and loans company’s stock worth $45,423,000 after purchasing an additional 307,926 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Provident Financial Services by 70.6% during the first quarter. Renaissance Technologies LLC now owns 366,046 shares of the savings and loans company’s stock worth $8,565,000 after purchasing an additional 151,446 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Provident Financial Services by 113.8% during the second quarter. Goldman Sachs Group Inc. now owns 267,331 shares of the savings and loans company’s stock worth $5,951,000 after purchasing an additional 142,287 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Provident Financial Services by 3.9% during the second quarter. State Street Corp now owns 3,256,311 shares of the savings and loans company’s stock worth $72,485,000 after purchasing an additional 122,534 shares in the last quarter. 65.22% of the stock is owned by institutional investors.

Insider Transactions at Provident Financial Services

In other news, EVP Vito Giannola sold 1,716 shares of the business’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $21.87, for a total transaction of $37,528.92. Following the transaction, the executive vice president now directly owns 94,030 shares in the company, valued at approximately $2,056,436.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP James A. Christy sold 5,000 shares of the company’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $22.57, for a total value of $112,850.00. Following the transaction, the executive vice president now owns 19,128 shares in the company, valued at approximately $431,718.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Vito Giannola sold 1,716 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $21.87, for a total transaction of $37,528.92. Following the completion of the transaction, the executive vice president now owns 94,030 shares in the company, valued at approximately $2,056,436.10. The disclosure for this sale can be found here. 4.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Provident Financial Services in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. DA Davidson lowered their price target on shares of Provident Financial Services from $26.00 to $22.00 in a research note on Thursday, September 29th. Finally, Piper Sandler lowered their price target on shares of Provident Financial Services to $24.00 in a research note on Wednesday, October 5th.

Provident Financial Services Stock Up 0.5 %

Shares of PFS stock opened at $22.37 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. Provident Financial Services, Inc. has a 1 year low of $19.18 and a 1 year high of $26.07. The firm’s fifty day moving average price is $21.90 and its two-hundred day moving average price is $22.37. The firm has a market capitalization of $1.68 billion, a P/E ratio of 10.26 and a beta of 0.95.

Provident Financial Services (NYSE:PFSGet Rating) last released its quarterly earnings data on Friday, October 28th. The savings and loans company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. The company had revenue of $137.93 million for the quarter, compared to analyst estimates of $125.90 million. Provident Financial Services had a net margin of 31.47% and a return on equity of 10.16%. On average, equities analysts predict that Provident Financial Services, Inc. will post 2.29 EPS for the current fiscal year.

Provident Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Thursday, November 10th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.96 annualized dividend and a dividend yield of 4.29%. Provident Financial Services’s dividend payout ratio is presently 44.04%.

About Provident Financial Services

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding PFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Provident Financial Services, Inc. (NYSE:PFSGet Rating).

Institutional Ownership by Quarter for Provident Financial Services (NYSE:PFS)

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