Victory Capital Management Inc. increased its position in Provident Financial Services Inc. (NYSE:PFS) by 77.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,319 shares of the company’s stock after buying an additional 2,752 shares during the period. Victory Capital Management Inc.’s holdings in Provident Financial Services were worth $124,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Zurich Insurance Group Ltd FI bought a new stake in shares of Provident Financial Services during the first quarter worth approximately $1,171,000. Renaissance Technologies LLC increased its stake in shares of 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 last quarter. TIAA CREF Investment Management LLC increased its stake in shares of 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 last quarter. BlackRock Fund Advisors increased its stake in shares of 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 last quarter. Finally, Moody Aldrich Partners LLC increased its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 61.25% of the company’s stock.
Provident Financial Services Inc. (NYSE:PFS) traded down 0.85% during trading on Thursday, hitting $21.02. The stock had a trading volume of 17,851 shares. The stock’s 50 day moving average price is $21.11 and its 200 day moving average price is $20.27. Provident Financial Services Inc. has a 12-month low of $17.71 and a 12-month high of $21.72. The firm has a market cap of $1.34 billion, a P/E ratio of 15.75 and a beta of 1.12.
Provident Financial Services (NYSE:PFS) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Provident Financial Services had a return on equity of 7.00% and a net margin of 24.06%. The company had revenue of $77.73 million for the quarter, compared to analyst estimates of $70.14 million. During the same quarter in the prior year, the company posted $0.35 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts anticipate that Provident Financial Services Inc. will post $1.36 EPS for the current fiscal year.
PFS has been the topic 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 on the stock. in a research report on Tuesday, September 13th. Zacks Investment Research upgraded Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th.
In other news, EVP John F. Kuntz sold 10,698 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $21.54, for a total transaction of $230,434.92. Following the completion of the sale, the executive vice president now directly owns 79,312 shares in the company, valued at approximately $1,708,380.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Christopher P. Martin sold 27,267 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $21.31, for a total value of $581,059.77. Following the sale, the chairman now owns 345,190 shares of the company’s stock, valued at $7,355,998.90. The disclosure for this sale can be found here. 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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