Royce & Associates LP Has $842,000 Stake in Provident Financial Services, Inc. (NYSE:PFS)

Royce & Associates LP lifted its position in Provident Financial Services, Inc. (NYSE:PFS) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,601 shares of the savings and loans company’s stock after purchasing an additional 3,317 shares during the quarter. Royce & Associates LP’s holdings in Provident Financial Services were worth $842,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PFS. Nomura Asset Management Co. Ltd. grew its position in Provident Financial Services by 120.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock valued at $28,000 after acquiring an additional 820 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Provident Financial Services in the fourth quarter valued at $99,000. KBC Group NV grew its position in Provident Financial Services by 40.7% in the fourth quarter. KBC Group NV now owns 6,387 shares of the savings and loans company’s stock valued at $121,000 after acquiring an additional 1,848 shares during the period. Smartleaf Asset Management LLC grew its position in Provident Financial Services by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,533 shares of the savings and loans company’s stock valued at $142,000 after acquiring an additional 4,408 shares during the period. Finally, Allworth Financial LP grew its position in Provident Financial Services by 35,936.4% in the fourth quarter. Allworth Financial LP now owns 7,928 shares of the savings and loans company’s stock valued at $151,000 after acquiring an additional 7,906 shares during the period. 71.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Hovde Group assumed coverage on Provident Financial Services in a research report on Friday, December 13th. They issued an “outperform” rating and a $25.00 price target on the stock. Royal Bank of Canada lowered their price target on Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Finally, StockNews.com upgraded Provident Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Provident Financial Services Price Performance

Shares of PFS stock opened at $16.87 on Friday. The stock’s fifty day moving average is $18.26 and its 200-day moving average is $19.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $2.20 billion, a PE ratio of 16.07 and a beta of 1.06. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $22.24.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.13). Provident Financial Services had a return on equity of 5.60% and a net margin of 10.13%. Equities research analysts expect that Provident Financial Services, Inc. will post 2.14 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.69%. The ex-dividend date was Friday, February 14th. Provident Financial Services’s dividend payout ratio is 91.43%.

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.