Renaissance Technologies LLC Has $27.42 Million Stake in Provident Financial Services, Inc (PFS)

Renaissance Technologies LLC increased its stake in shares of Provident Financial Services, Inc (NYSE:PFS) by 1.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,080,500 shares of the savings and loans company’s stock after acquiring an additional 16,400 shares during the period. Renaissance Technologies LLC owned 1.63% of Provident Financial Services worth $27,423,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Provident Financial Services during the 2nd quarter valued at about $118,000. Ameritas Investment Partners Inc. acquired a new position in shares of Provident Financial Services during the 1st quarter valued at about $136,000. Amalgamated Bank increased its holdings in shares of Provident Financial Services by 1.5% during the 2nd quarter. Amalgamated Bank now owns 8,387 shares of the savings and loans company’s stock valued at $213,000 after acquiring an additional 126 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in shares of Provident Financial Services during the 1st quarter valued at about $293,000. Finally, State of Alaska Department of Revenue increased its holdings in shares of Provident Financial Services by 79.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 11,980 shares of the savings and loans company’s stock valued at $304,000 after acquiring an additional 5,310 shares during the last quarter. 61.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of Provident Financial Services, Inc (PFS) opened at 27.11 on Friday. The firm has a 50-day moving average price of $25.31 and a 200-day moving average price of $25.18. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 18.70 and a beta of 1.01. Provident Financial Services, Inc has a 12-month low of $20.79 and a 12-month high of $28.92.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings data on Friday, July 28th. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $83.87 million for the quarter, compared to analyst estimates of $81.24 million. Provident Financial Services had a return on equity of 7.40% and a net margin of 25.39%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. Equities research analysts anticipate that Provident Financial Services, Inc will post $1.49 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This article was reported by Transcript Daily and is the property of of Transcript Daily. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://transcriptdaily.com/2017/10/08/renaissance-technologies-llc-has-27-42-million-stake-in-provident-financial-services-inc-pfs.html.

A number of brokerages have recently commented on PFS. Zacks Investment Research lowered Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Royal Bank Of Canada reissued a “buy” rating and set a $30.00 price objective on shares of Provident Financial Services in a report on Friday, September 8th. DA Davidson began coverage on Provident Financial Services in a report on Friday, September 1st. They set a “neutral” rating and a $25.00 price objective on the stock. BidaskClub lowered Provident Financial Services from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Finally, ValuEngine lowered Provident Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.50.

Provident Financial Services 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.

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:PFS).

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

Receive News & Ratings for Provident Financial Services Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial Services Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply