Quadrant Private Wealth Management LLC Sells 6,791 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Quadrant Private Wealth Management LLC decreased its holdings in shares of Provident Financial Services, Inc. (NYSE:PFS) by 19.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,934 shares of the savings and loans company’s stock after selling 6,791 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Provident Financial Services were worth $546,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Provident Financial Services in the third quarter valued at about $435,000. International Assets Investment Management LLC boosted its position 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 purchasing an additional 7,457 shares during the period. US Bancorp DE boosted its position in Provident Financial Services by 3,201.7% during the third quarter. US Bancorp DE now owns 19,051 shares of the savings and loans company’s stock worth $354,000 after purchasing an additional 18,474 shares during the period. Forum Financial Management LP bought a new position in Provident Financial Services during the third quarter worth about $217,000. Finally, Chartwell Investment Partners LLC bought a new position in Provident Financial Services during the third quarter worth about $5,564,000. Institutional investors and hedge funds own 71.97% of the company’s stock.

Insider Activity

In other news, EVP James A. Christy sold 3,500 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $20.88, for a total transaction of $73,080.00. Following the sale, the executive vice president now owns 34,254 shares in the company, valued at approximately $715,223.52. The trade was a 9.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. DA Davidson raised their price objective on shares of Provident Financial Services from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, November 15th. StockNews.com raised shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday. Royal Bank of Canada decreased 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 research note on Thursday, January 30th. Finally, Hovde Group initiated coverage on shares of Provident Financial Services in a research note on Friday, December 13th. They issued an “outperform” rating and a $25.00 target price on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Provident Financial Services has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Provident Financial Services Stock Performance

NYSE:PFS opened at $18.62 on Friday. The stock has a market cap of $2.43 billion, a P/E ratio of 17.74 and a beta of 1.07. The firm’s fifty day simple moving average is $19.16 and its 200 day simple moving average is $19.09. Provident Financial Services, Inc. has a twelve month low of $13.07 and a twelve month high of $22.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.95.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.13). Provident Financial Services had a net margin of 10.13% and a return on equity of 5.60%. As a group, research analysts predict that Provident Financial Services, Inc. will post 2.14 EPS for the current year.

Provident Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend is Friday, February 14th. Provident Financial Services’s dividend payout ratio (DPR) is presently 91.43%.

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.