Charles Schwab Investment Management Inc. Has $33.27 Million Holdings in Provident Financial Services, Inc. (NYSE:PFS)

Charles Schwab Investment Management Inc. lifted its position in shares of Provident Financial Services, Inc. (NYSE:PFS) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,792,792 shares of the savings and loans company’s stock after purchasing an additional 102,737 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Provident Financial Services were worth $33,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of PFS. Hsbc Holdings PLC grew its holdings in shares of Provident Financial Services by 4,245.5% during the 2nd quarter. Hsbc Holdings PLC now owns 3,996,954 shares of the savings and loans company’s stock worth $56,877,000 after purchasing an additional 3,904,975 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Provident Financial Services by 51.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,787,088 shares of the savings and loans company’s stock worth $111,740,000 after purchasing an additional 2,649,643 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of Provident Financial Services by 125.3% during the 2nd quarter. Systematic Financial Management LP now owns 1,690,155 shares of the savings and loans company’s stock worth $24,254,000 after purchasing an additional 939,951 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Provident Financial Services by 56.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,612,246 shares of the savings and loans company’s stock worth $23,136,000 after purchasing an additional 582,844 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Provident Financial Services during the 2nd quarter worth approximately $6,990,000. Institutional investors and hedge funds own 71.97% of the company’s stock.

Provident Financial Services Trading Down 1.4 %

Shares of PFS opened at $20.66 on Wednesday. The stock has a fifty day moving average price of $19.69 and a two-hundred day moving average price of $17.59. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03. Provident Financial Services, Inc. has a 52-week low of $13.07 and a 52-week high of $22.24. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 19.87 and a beta of 1.06.

Provident Financial Services (NYSE:PFS) last released its earnings results on Tuesday, October 29th. The savings and loans company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The firm had revenue of $349.38 million for the quarter, compared to the consensus estimate of $211.25 million. Provident Financial Services had a return on equity of 5.21% and a net margin of 9.55%. During the same quarter in the previous year, the firm earned $0.38 EPS. Analysts predict that Provident Financial Services, Inc. will post 1.84 EPS for the current fiscal year.

Provident Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, November 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.65%. Provident Financial Services’s dividend payout ratio (DPR) is presently 92.31%.

Analysts Set New Price Targets

Several equities analysts recently commented on PFS shares. StockNews.com upgraded Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Keefe, Bruyette & Woods upgraded Provident Financial Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $20.00 to $21.00 in a research report on Thursday, August 15th. Finally, DA Davidson raised their target price on Provident Financial Services from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Provident Financial Services has an average rating of “Moderate Buy” and a consensus target price of $23.00.

About Provident Financial Services

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.