KBC Group NV Boosts Holdings in Provident Financial Services, Inc. (NYSE:PFS)

KBC Group NV boosted its holdings in shares of Provident Financial Services, Inc. (NYSE:PFS) by 40.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,387 shares of the savings and loans company’s stock after acquiring an additional 1,848 shares during the quarter. KBC Group NV’s holdings in Provident Financial Services were worth $121,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. lifted its position in shares of 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 purchasing an additional 820 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Provident Financial Services by 1,779.7% during the 3rd 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. Haverford Trust Co purchased a new position in Provident Financial Services during the 3rd quarter valued at about $187,000. EP Wealth Advisors LLC bought a new stake in Provident Financial Services during the 3rd quarter valued at $211,000. Finally, Forum Financial Management LP bought a new position in Provident Financial Services in the third quarter worth about $217,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.

Insider Activity at Provident Financial Services

In related news, EVP James A. Christy sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $20.88, for a total value of $73,080.00. Following the transaction, the executive vice president now directly owns 34,254 shares in the company, valued at approximately $715,223.52. This represents a 9.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.44% of the stock is owned by corporate insiders.

Provident Financial Services Price Performance

NYSE:PFS opened at $19.22 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $2.51 billion, a PE ratio of 18.30 and a beta of 1.07. The stock’s 50-day moving average price is $19.34 and its 200-day moving average price is $19.06. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $22.24.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.13). Provident Financial Services had a return on equity of 5.60% and a net margin of 10.13%. As a group, equities analysts expect that Provident Financial Services, Inc. will post 2.09 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.96 dividend on an annualized basis and a yield of 4.99%. Provident Financial Services’s payout ratio is presently 91.43%.

Analyst Ratings Changes

PFS has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered their price target on shares of Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, January 30th. StockNews.com downgraded shares of Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday. DA Davidson increased their price target on Provident Financial Services from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Hovde Group initiated coverage on Provident Financial Services in a research report on Friday, December 13th. They issued an “outperform” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Provident Financial Services has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Provident Financial Services Profile

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.