Prudential Financial Inc. raised its position in Provident Financial Services Inc. (NYSE:PFS) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 562,005 shares of the company’s stock after buying an additional 33,100 shares during the period. Prudential Financial Inc. owned 0.88% of Provident Financial Services worth $11,038,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in PFS. Zurich Insurance Group Ltd FI purchased a new position in Provident Financial Services during the first quarter worth $1,171,000. Renaissance Technologies LLC increased its stake in Provident Financial Services by 15.3% in the first quarter. Renaissance Technologies LLC now owns 840,600 shares of the company’s stock worth $16,972,000 after buying an additional 111,400 shares during the period. TIAA CREF Investment Management LLC increased its stake in Provident Financial Services by 7.7% in the first quarter. TIAA CREF Investment Management LLC now owns 277,266 shares of the company’s stock worth $5,598,000 after buying an additional 19,800 shares during the period. BlackRock Fund Advisors increased its stake in Provident Financial Services by 1.5% in the first quarter. BlackRock Fund Advisors now owns 3,905,559 shares of the company’s stock worth $78,853,000 after buying an additional 58,443 shares during the period. Finally, Moody Aldrich Partners LLC increased its stake in Provident Financial Services by 166.5% in the second quarter. Moody Aldrich Partners LLC now owns 55,580 shares of the company’s stock worth $1,092,000 after buying an additional 34,725 shares during the period. Institutional investors and hedge funds own 61.25% of the company’s stock.
Provident Financial Services Inc. (NYSE:PFS) traded up 0.05% on Tuesday, hitting $20.94. The stock had a trading volume of 11,569 shares. The stock has a 50-day moving average of $21.08 and a 200-day moving average of $20.25. The company has a market cap of $1.33 billion, a PE ratio of 15.69 and a beta of 1.12. Provident Financial Services Inc. has a one year low of $17.71 and a one year high of $21.72.
Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. The business had revenue of $77.73 million for the quarter, compared to analyst estimates of $70.14 million. Provident Financial Services had a return on equity of 7.00% and a net margin of 24.06%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. Equities analysts expect that Provident Financial Services Inc. will post $1.36 earnings per share for the current fiscal year.
A number of equities research analysts have commented on PFS shares. Sandler O’Neill downgraded Provident Financial Services from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a report on Tuesday, September 13th. Zacks Investment Research raised Provident Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, June 30th.
In related news, Chairman Christopher P. Martin sold 27,267 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $21.31, for a total transaction of $581,059.77. Following the sale, the chairman now directly owns 345,190 shares of the company’s stock, valued at approximately $7,355,998.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John F. Kuntz sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $20.09, for a total value of $200,900.00. Following the sale, the executive vice president now directly owns 78,614 shares in the company, valued at $1,579,355.26. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.
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.
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