Thrivent Financial for Lutherans Grows Holdings in Provident Financial Services, Inc. (NYSE:PFS)

Thrivent Financial for Lutherans raised its position in Provident Financial Services, Inc. (NYSE:PFS) by 54.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 158,433 shares of the savings and loans company’s stock after purchasing an additional 55,964 shares during the period. Thrivent Financial for Lutherans’ holdings in Provident Financial Services were worth $2,990,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its holdings in shares of Provident Financial Services by 120.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,500 shares of the savings and loans company’s stock valued at $28,000 after acquiring an additional 820 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Provident Financial Services in the 4th quarter valued at $99,000. KBC Group NV increased 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 valued at $121,000 after purchasing an additional 1,848 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Provident Financial Services by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 7,533 shares of the savings and loans company’s stock worth $142,000 after purchasing an additional 4,408 shares during the period. Finally, Allworth Financial LP grew its position in Provident Financial Services by 35,936.4% during the fourth quarter. Allworth Financial LP now owns 7,928 shares of the savings and loans company’s stock valued at $151,000 after buying an additional 7,906 shares during the period. Institutional investors own 71.97% of the company’s stock.

Provident Financial Services Stock Performance

NYSE PFS opened at $17.34 on Thursday. The company’s 50 day moving average is $18.17 and its 200-day moving average is $18.99. The firm has a market cap of $2.26 billion, a P/E ratio of 16.51 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 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 posted its earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.13). Provident Financial Services had a return on equity of 5.60% and a net margin of 10.13%. Sell-side analysts predict that Provident Financial Services, Inc. will post 2.14 earnings per share for the current year.

Provident Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Friday, February 14th. Provident Financial Services’s payout ratio is presently 91.43%.

Wall Street Analysts Forecast Growth

PFS has been the topic of several research reports. StockNews.com raised shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Hovde Group began coverage on shares of Provident Financial Services in a report on Friday, December 13th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Royal Bank of Canada reduced their price objective on Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.