Texas Permanent School Fund Sells 591 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Texas Permanent School Fund lessened its holdings in Provident Financial Services, Inc. (NYSE:PFS – Get Rating) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 53,970 shares of the savings and loans company’s stock after selling 591 shares during the period. Texas Permanent School Fund’s holdings in Provident Financial Services were worth $1,052,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PFS. Assetmark Inc. grew its position in Provident Financial Services by 146.9% in the second quarter. Assetmark Inc. now owns 1,254 shares of the savings and loans company’s stock valued at $28,000 after acquiring an additional 746 shares during the last quarter. Advisor Group Holdings Inc. grew its position in Provident Financial Services by 35.7% in the first quarter. Advisor Group Holdings Inc. now owns 1,785 shares of the savings and loans company’s stock valued at $42,000 after acquiring an additional 470 shares during the last quarter. FMR LLC grew its position in Provident Financial Services by 48.7% in the second quarter. FMR LLC now owns 4,016 shares of the savings and loans company’s stock valued at $90,000 after acquiring an additional 1,315 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Provident Financial Services in the third quarter valued at about $165,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Provident Financial Services during the first quarter valued at about $171,000. Institutional investors own 65.22% of the company’s stock.

Analyst Upgrades and Downgrades

PFS has been the topic of a number of recent research reports. Piper Sandler cut their price target on Provident Financial Services to $24.00 in a research note on Wednesday, October 5th. StockNews.com initiated coverage on Provident Financial Services in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, DA Davidson cut their price target on Provident Financial Services from $26.00 to $22.00 in a research note on Thursday, September 29th.

Insider Buying and Selling

In related news, EVP Vito Giannola sold 1,716 shares of Provident Financial Services stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $21.87, for a total value of $37,528.92. Following the transaction, the executive vice president now directly owns 94,030 shares of the company’s stock, valued at $2,056,436.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Provident Financial Services news, EVP James A. Christy sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $22.57, for a total value of $112,850.00. Following the transaction, the executive vice president now directly owns 19,128 shares of the company’s stock, valued at $431,718.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vito Giannola sold 1,716 shares of the business’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $21.87, for a total value of $37,528.92. Following the completion of the transaction, the executive vice president now directly owns 94,030 shares in the company, valued at $2,056,436.10. The disclosure for this sale can be found here. 4.26% of the stock is owned by insiders.

Provident Financial Services Stock Performance

Shares of PFS stock opened at $22.37 on Friday. The business’s 50-day moving average price is $21.90 and its 200-day moving average price is $22.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 10.26 and a beta of 0.95. Provident Financial Services, Inc. has a 12 month low of $19.18 and a 12 month high of $26.07.

Provident Financial Services (NYSE:PFS – Get Rating) last posted its quarterly earnings data on Friday, October 28th. The savings and loans company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. The company had revenue of $137.93 million for the quarter, compared to analyst estimates of $125.90 million. Provident Financial Services had a return on equity of 10.16% and a net margin of 31.47%. Equities research analysts forecast that Provident Financial Services, Inc. will post 2.29 EPS for the current year.

Provident Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Thursday, November 10th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Wednesday, November 9th. Provident Financial Services’s dividend payout ratio is currently 44.04%.

Provident Financial Services Company Profile

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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. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products.