Provident Financial Services, Inc. (NYSE:PFS) Shares Sold by Jane Street Group LLC

Jane Street Group LLC reduced its position in Provident Financial Services, Inc. (NYSE:PFS) by 92.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 54,350 shares of the savings and loans company’s stock after selling 691,087 shares during the quarter. Jane Street Group LLC’s holdings in Provident Financial Services were worth $1,009,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PFS. LMR Partners LLP purchased a new position in Provident Financial Services during the third quarter worth $508,000. Renaissance Technologies LLC purchased a new stake in Provident Financial Services during the 2nd quarter worth about $6,990,000. Royce & Associates LP purchased a new stake in Provident Financial Services during the 3rd quarter worth about $766,000. Thrivent Financial for Lutherans raised its stake in Provident Financial Services by 37.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 222,849 shares of the savings and loans company’s stock valued at $3,198,000 after purchasing an additional 61,179 shares during the last quarter. Finally, Foundry Partners LLC purchased a new position in Provident Financial Services in the 2nd quarter valued at about $2,613,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.

Provident Financial Services Trading Down 0.2 %

NYSE:PFS opened at $18.84 on Tuesday. The business’s 50-day moving average is $20.19 and its two-hundred day moving average is $18.32. The firm has a market capitalization of $2.46 billion, a PE ratio of 18.12 and a beta of 1.06. Provident Financial Services, Inc. has a 12 month low of $13.07 and a 12 month high of $22.24. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.03.

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

Provident Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.96 dividend on an annualized basis and a yield of 5.10%. Provident Financial Services’s dividend payout ratio (DPR) is presently 92.31%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PFS. DA Davidson boosted 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 Thursday, November 28th. Finally, Hovde Group began coverage on Provident Financial Services in a research note on Friday, December 13th. They set an “outperform” rating and a $25.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Insiders Place Their Bets

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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.29% of the stock is owned by company insiders.

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.