Oliver Luxxe Assets LLC Sells 42,681 Shares of Provident Financial Services, Inc $PFS

Oliver Luxxe Assets LLC trimmed its holdings in shares of Provident Financial Services, Inc (NYSE:PFS) by 46.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,837 shares of the savings and loans company’s stock after selling 42,681 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Provident Financial Services were worth $1,178,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PFS. Royal Bank of Canada boosted its holdings in Provident Financial Services by 23.9% during the 1st quarter. Royal Bank of Canada now owns 44,106 shares of the savings and loans company’s stock valued at $758,000 after acquiring an additional 8,507 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Provident Financial Services by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,926 shares of the savings and loans company’s stock valued at $1,286,000 after buying an additional 3,277 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Provident Financial Services by 6.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 256,739 shares of the savings and loans company’s stock valued at $4,408,000 after buying an additional 15,112 shares during the period. Jane Street Group LLC boosted its position in Provident Financial Services by 247.5% in the 1st quarter. Jane Street Group LLC now owns 312,478 shares of the savings and loans company’s stock valued at $5,365,000 after buying an additional 222,549 shares during the period. Finally, Intech Investment Management LLC boosted its position in Provident Financial Services by 45.6% in the 1st quarter. Intech Investment Management LLC now owns 73,261 shares of the savings and loans company’s stock valued at $1,258,000 after buying an additional 22,961 shares during the period. 71.97% of the stock is currently owned by institutional investors.

Provident Financial Services Trading Up 0.1%

NYSE PFS opened at $24.48 on Monday. Provident Financial Services, Inc has a one year low of $17.69 and a one year high of $25.49. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 10.20 and a beta of 0.78. The company’s 50-day simple moving average is $23.55 and its two-hundred day simple moving average is $22.47.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings results on Thursday, July 30th. The savings and loans company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. Provident Financial Services had a net margin of 22.15% and a return on equity of 11.00%. The firm had revenue of $232.96 million during the quarter, compared to analysts’ expectations of $225.57 million. During the same quarter in the prior year, the company earned $0.55 EPS. Equities analysts forecast that Provident Financial Services, Inc will post 2.41 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.9%. Provident Financial Services’s payout ratio is 40.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PFS shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $28.00 target price (up from $26.00) on shares of Provident Financial Services in a research report on Monday, August 3rd. Hovde Group increased their price objective on Provident Financial Services from $26.50 to $28.50 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Piper Sandler restated an “overweight” rating and set a $29.00 price objective (up from $26.00) on shares of Provident Financial Services in a report on Friday, July 31st. DA Davidson set a $26.00 target price on Provident Financial Services in a research report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Provident Financial Services in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.79.

Provident Financial Services Company 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.