Empowered Funds LLC Has $12.38 Million Stock Holdings in Provident Financial Services, Inc $PFS

Empowered Funds LLC boosted its holdings in shares of Provident Financial Services, Inc (NYSE:PFS) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 584,848 shares of the savings and loans company’s stock after purchasing an additional 27,345 shares during the quarter. Empowered Funds LLC’s holdings in Provident Financial Services were worth $12,375,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFS. Key Capital Management INC bought a new position in Provident Financial Services in the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Provident Financial Services by 358.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 1,210 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in shares of Provident Financial Services in the fourth quarter worth $33,000. Danske Bank A S acquired a new stake in shares of Provident Financial Services in the third quarter worth $58,000. Finally, Exchange Traded Concepts LLC bought a new position in Provident Financial Services during the fourth quarter worth $73,000. Institutional investors and hedge funds own 71.97% of the company’s stock.

Insider Activity

In other news, CEO George Lista sold 2,556 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $22.40, for a total transaction of $57,254.40. Following the completion of the transaction, the chief executive officer directly owned 109,262 shares of the company’s stock, valued at approximately $2,447,468.80. This trade represents a 2.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.02% of the company’s stock.

Provident Financial Services Stock Performance

Shares of NYSE PFS opened at $24.00 on Thursday. The business has a fifty day simple moving average of $23.17 and a 200 day simple moving average of $22.23. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 10.21 and a beta of 0.78. Provident Financial Services, Inc has a one year low of $17.61 and a one year high of $24.56.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Wednesday, July 29th. The savings and loans company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. Provident Financial Services had a return on equity of 10.98% and a net margin of 21.95%.The firm had revenue of $234.96 million during the quarter, compared to analysts’ expectations of $225.57 million. During the same period last year, the business earned $0.55 earnings per share. Sell-side analysts expect that Provident Financial Services, Inc will post 2.36 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PFS shares. Raymond James Financial upped their target price on shares of Provident Financial Services from $25.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods raised their price target on shares of Provident Financial Services from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Stephens began coverage on shares of Provident Financial Services in a report on Monday, June 8th. They set an “equal weight” rating and a $24.00 price objective on the stock. DA Davidson reaffirmed a “neutral” rating and set a $23.00 price objective on shares of Provident Financial Services in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Provident Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Provident Financial Services Profile

Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.

Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.