Oliver Luxxe Assets LLC Has $1.67 Million Stake in Provident Financial Services, Inc. (NYSE:PFS)

Oliver Luxxe Assets LLC increased its stake in shares of Provident Financial Services, Inc. (NYSE:PFS) by 3.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 88,712 shares of the savings and loans company’s stock after buying an additional 2,762 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Provident Financial Services were worth $1,674,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PFS. Glenmede Trust Co. NA grew its holdings in shares of Provident Financial Services by 5.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 16,672 shares of the savings and loans company’s stock worth $309,000 after purchasing an additional 802 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Provident Financial Services by 120.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock valued at $28,000 after buying an additional 820 shares during the period. D.A. Davidson & CO. raised its position in shares of Provident Financial Services by 3.3% in the 3rd quarter. D.A. Davidson & CO. now owns 29,402 shares of the savings and loans company’s stock valued at $546,000 after buying an additional 944 shares in the last quarter. Aigen Investment Management LP lifted its holdings in shares of Provident Financial Services by 6.5% during the 3rd quarter. Aigen Investment Management LP now owns 20,616 shares of the savings and loans company’s stock worth $383,000 after acquiring an additional 1,257 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of Provident Financial Services by 9.3% during the 3rd quarter. Quantinno Capital Management LP now owns 23,042 shares of the savings and loans company’s stock worth $428,000 after acquiring an additional 1,954 shares in the last quarter. Institutional investors own 71.97% of the company’s stock.

Provident Financial Services Stock Down 1.0 %

PFS traded down $0.18 during trading on Monday, hitting $18.75. 201,966 shares of the company’s stock were exchanged, compared to its average volume of 387,356. Provident Financial Services, Inc. has a fifty-two week low of $13.07 and a fifty-two week high of $22.24. The stock has a market cap of $2.45 billion, a P/E ratio of 18.03 and a beta of 1.06. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.02. The business’s 50 day moving average is $20.18 and its two-hundred day moving average is $18.44.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). Provident Financial Services had a net margin of 9.55% and a return on equity of 5.21%. The firm had revenue of $349.38 million for the quarter, compared to the consensus estimate of $211.25 million. During the same period in the previous year, the business earned $0.38 earnings per share. As a group, equities analysts expect that Provident Financial Services, Inc. will post 1.84 earnings per share for the current fiscal year.

Provident Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend was Friday, November 15th. Provident Financial Services’s dividend payout ratio is currently 92.31%.

Insider Activity at Provident Financial Services

In other Provident Financial Services news, EVP James A. Christy sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $20.88, for a total value of $73,080.00. Following the completion of the transaction, the executive vice president now directly owns 34,254 shares of the company’s stock, valued at $715,223.52. This trade represents a 9.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PFS shares. DA Davidson boosted their price objective on shares of Provident Financial Services from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Hovde Group began coverage on Provident Financial Services in a research report on Friday, December 13th. They set an “outperform” rating and a $25.00 price objective for the company. Finally, StockNews.com raised Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

About Provident Financial Services

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. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.