Y Intercept Hong Kong Ltd Sells 2,496 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Y Intercept Hong Kong Ltd trimmed its stake in Provident Financial Services, Inc. (NYSE:PFS) by 11.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,675 shares of the savings and loans company’s stock after selling 2,496 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Provident Financial Services were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Signaturefd LLC lifted its position in Provident Financial Services by 991.2% in the second quarter. Signaturefd LLC now owns 1,855 shares of the savings and loans company’s stock worth $27,000 after buying an additional 1,685 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Provident Financial Services by 43.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,050 shares of the savings and loans company’s stock worth $58,000 after purchasing an additional 1,218 shares during the period. International Assets Investment Management LLC lifted its stake in Provident Financial Services by 1,779.7% in the third quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company’s stock worth $146,000 after purchasing an additional 7,457 shares during the last quarter. Haverford Trust Co purchased a new position in shares of Provident Financial Services during the third quarter valued at approximately $187,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Provident Financial Services during the second quarter valued at approximately $163,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Provident Financial Services

In related news, EVP James A. Christy sold 3,500 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $20.88, for a total transaction of $73,080.00. Following the completion of the sale, the executive vice president now directly owns 34,254 shares in the company, valued at $715,223.52. This represents a 9.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.29% of the company’s stock.

Provident Financial Services Stock Performance

Shares of Provident Financial Services stock opened at $20.66 on Tuesday. Provident Financial Services, Inc. has a 12 month low of $13.07 and a 12 month high of $22.24. The stock’s fifty day moving average price is $20.10 and its 200-day moving average price is $17.90. The firm has a market cap of $2.70 billion, a P/E ratio of 19.87 and a beta of 1.06. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.02.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 EPS for the quarter, missing the consensus estimate 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 business had revenue of $349.38 million during the quarter, compared to the consensus estimate of $211.25 million. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, equities research analysts expect that Provident Financial Services, Inc. will post 1.84 earnings per share for the current fiscal year.

Provident Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.24 per share. The ex-dividend date was Friday, November 15th. This represents a $0.96 annualized dividend and a yield of 4.65%. Provident Financial Services’s dividend payout ratio (DPR) is presently 92.31%.

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