Collective Family Office LLC Sells 6,960 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Collective Family Office LLC decreased its position in Provident Financial Services, Inc. (NYSE:PFS) by 18.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,358 shares of the savings and loans company’s stock after selling 6,960 shares during the period. Collective Family Office LLC’s holdings in Provident Financial Services were worth $573,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PFS. Nomura Asset Management Co. Ltd. raised its holdings in Provident Financial Services by 120.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock worth $28,000 after buying an additional 820 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Provident Financial Services by 1,779.7% during 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 buying an additional 7,457 shares in the last quarter. Algert Global LLC purchased a new stake in Provident Financial Services in the 2nd quarter valued at $178,000. Intech Investment Management LLC purchased a new position in Provident Financial Services during the 2nd quarter worth $186,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Provident Financial Services in the 2nd quarter worth $187,000. Institutional investors own 71.97% of the company’s stock.

Provident Financial Services Price Performance

Provident Financial Services stock traded down $0.06 during mid-day trading on Wednesday, hitting $18.42. 72,509 shares of the company traded hands, compared to its average volume of 416,513. The stock has a fifty day moving average price of $20.16 and a 200-day moving average price of $18.54. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 17.71 and a beta of 1.08. Provident Financial Services, Inc. has a one year low of $13.07 and a one year high of $22.24. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.11). Provident Financial Services had a return on equity of 5.21% and a net margin of 9.55%. The company had revenue of $349.38 million during the quarter, compared to analysts’ expectations of $211.25 million. During the same quarter last year, the firm posted $0.38 earnings per share. On average, equities analysts predict 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 issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.21%. Provident Financial Services’s dividend payout ratio is 92.31%.

Analyst Ratings Changes

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

Insider Buying and Selling at Provident Financial Services

In other news, EVP James A. Christy sold 3,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 34,254 shares in the company, valued at approximately $715,223.52. This trade represents a 9.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.29% of the company’s stock.

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.