Apollon Wealth Management LLC Boosts Stake in Provident Financial Services, Inc. (NYSE:PFS)

Apollon Wealth Management LLC lifted its position in shares of Provident Financial Services, Inc. (NYSE:PFS) by 105.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,581 shares of the savings and loans company’s stock after acquiring an additional 13,151 shares during the quarter. Apollon Wealth Management LLC’s holdings in Provident Financial Services were worth $483,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PFS. Nomura Asset Management Co. Ltd. raised its position in shares of Provident Financial Services by 120.6% during the 3rd 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. KBC Group NV raised its position in shares of Provident Financial Services by 40.7% during the 4th quarter. KBC Group NV now owns 6,387 shares of the savings and loans company’s stock worth $121,000 after purchasing an additional 1,848 shares during the last quarter. International Assets Investment Management LLC raised 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 purchasing an additional 7,457 shares during the last quarter. Haverford Trust Co acquired a new position in shares of Provident Financial Services during the 3rd quarter worth about $187,000. Finally, EP Wealth Advisors LLC acquired a new stake in Provident Financial Services in the 3rd quarter valued at about $211,000. Institutional investors and hedge funds own 71.97% of the company’s stock.

Insider Buying and Selling at Provident Financial Services

In related news, EVP James A. Christy sold 3,500 shares of Provident Financial Services 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 directly owns 34,254 shares in the company, valued at $715,223.52. This trade represents a 9.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.29% of the stock is currently owned by corporate insiders.

Provident Financial Services Stock Up 1.0 %

Shares of NYSE PFS opened at $18.89 on Friday. The company has a 50 day simple moving average of $19.20 and a 200-day simple moving average of $19.09. The company has a market capitalization of $2.47 billion, a P/E ratio of 17.99 and a beta of 1.07. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.01 and a quick ratio of 1.01. Provident Financial Services, Inc. has a 1 year low of $13.07 and a 1 year high of $22.24.

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

Provident Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.24 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.96 annualized dividend and a yield of 5.08%. Provident Financial Services’s dividend payout ratio is presently 91.43%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. DA Davidson increased their price objective on shares of Provident Financial Services from $24.00 to $27.00 and gave the company a “buy” rating in a report on Friday, November 15th. StockNews.com downgraded shares of Provident Financial Services from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Royal Bank of Canada cut their price objective on shares of Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. Finally, Hovde Group assumed coverage on shares of Provident Financial Services in a report on Friday, December 13th. They issued an “outperform” rating and a $25.00 price objective for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Provident Financial Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.