Quantinno Capital Management LP Has $428,000 Holdings in Provident Financial Services, Inc. (NYSE:PFS)

Quantinno Capital Management LP increased its holdings in shares of Provident Financial Services, Inc. (NYSE:PFS) by 9.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,042 shares of the savings and loans company’s stock after purchasing an additional 1,954 shares during the quarter. Quantinno Capital Management LP’s holdings in Provident Financial Services were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its stake 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 buying an additional 3,904,975 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Provident Financial Services by 51.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,787,088 shares of the savings and loans company’s stock worth $111,740,000 after acquiring an additional 2,649,643 shares in the last quarter. Systematic Financial Management LP boosted its position in Provident Financial Services by 125.3% during the second quarter. Systematic Financial Management LP now owns 1,690,155 shares of the savings and loans company’s stock valued at $24,254,000 after purchasing an additional 939,951 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Provident Financial Services by 56.6% in the second quarter. Bank of New York Mellon Corp now owns 1,612,246 shares of the savings and loans company’s stock valued at $23,136,000 after purchasing an additional 582,844 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Provident Financial Services during the 2nd quarter worth approximately $6,990,000. Institutional investors own 71.97% of the company’s stock.

Insider Transactions at Provident Financial Services

In other news, EVP James A. Christy sold 3,500 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $20.88, for a total value of $73,080.00. Following the completion of the sale, the executive vice president now owns 34,254 shares of the company’s stock, valued at approximately $715,223.52. The trade was a 9.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.29% of the stock is owned by corporate insiders.

Provident Financial Services Trading Up 0.2 %

Shares of Provident Financial Services stock opened at $20.36 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day simple moving average of $20.10 and a two-hundred day simple moving average of $17.90. Provident Financial Services, Inc. has a 1 year low of $13.07 and a 1 year high of $22.24. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 19.58 and a beta of 1.06.

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

Provident Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Friday, November 15th. Provident Financial Services’s payout ratio is 92.31%.

Wall Street Analyst Weigh In

PFS has been the subject of several recent analyst reports. DA Davidson increased their price objective on Provident Financial Services from $24.00 to $27.00 and gave the company a “buy” rating in a report on Friday, November 15th. Hovde Group began coverage on shares of Provident Financial Services in a research note on Friday. They issued an “outperform” rating and a $25.00 price target for the company. Finally, StockNews.com upgraded shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

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.