UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Provident Financial Services, Inc (NYSE:PFS – Free Report) by 9.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,608 shares of the savings and loans company’s stock after selling 22,332 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of Provident Financial Services worth $5,050,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in Provident Financial Services by 358.0% during the 2nd 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 in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Provident Financial Services in the 4th quarter worth $33,000. Danske Bank A S purchased a new stake in shares of Provident Financial Services during the 3rd quarter worth $58,000. First Bancorp Inc ME purchased a new stake in shares of Provident Financial Services during the 2nd quarter worth $86,000. Finally, Russell Investments Group Ltd. boosted its position in Provident Financial Services by 227.6% during the second quarter. Russell Investments Group Ltd. now owns 6,926 shares of the savings and loans company’s stock valued at $121,000 after purchasing an additional 4,812 shares in the last quarter. Hedge funds and other institutional investors own 71.97% of the company’s stock.
Insider Transactions at Provident Financial Services
In other news, EVP Vito Giannola sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $24.36, for a total value of $487,200.00. Following the completion of the transaction, the executive vice president directly owned 56,424 shares in the company, valued at $1,374,488.64. This trade represents a 26.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Shara sold 40,266 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $23.06, for a total transaction of $928,533.96. Following the transaction, the director directly owned 382,911 shares of the company’s stock, valued at $8,829,927.66. This represents a 9.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 76,166 shares of company stock worth $1,786,204 over the last three months. Corporate insiders own 3.02% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Stock Analysis on Provident Financial Services
Provident Financial Services Trading Down 1.2%
Shares of NYSE:PFS opened at $23.45 on Wednesday. The business’s 50-day moving average is $23.97 and its 200 day moving average is $22.70. Provident Financial Services, Inc has a 1 year low of $17.69 and a 1 year high of $25.49. The firm has a market capitalization of $3.06 billion, a P/E ratio of 9.77 and a beta of 0.77. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.03 and a quick ratio of 1.03.
Provident Financial Services (NYSE:PFS – Get Free Report) last issued 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 return on equity of 11.00% and a net margin of 22.15%.The business had revenue of $234.96 million during the quarter, compared to the consensus estimate of $225.57 million. During the same quarter last year, the company earned $0.55 earnings per share. On average, research analysts predict that Provident Financial Services, Inc will post 2.42 earnings per share for the current fiscal year.
Provident Financial Services Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, August 14th. Provident Financial Services’s dividend payout ratio is presently 40.00%.
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.
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