Natixis Advisors LLC Purchases Shares of 12,650 Provident Financial Services, Inc. (NYSE:PFS)

Natixis Advisors LLC acquired a new position in shares of Provident Financial Services, Inc. (NYSE:PFS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 12,650 shares of the savings and loans company’s stock, valued at approximately $239,000.

Other hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its position in Provident Financial Services by 120.6% during the third 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. Steward Partners Investment Advisory LLC acquired a new stake in shares of Provident Financial Services during the 4th quarter worth $99,000. KBC Group NV raised its position in shares of Provident Financial Services by 40.7% in the 4th quarter. KBC Group NV now owns 6,387 shares of the savings and loans company’s stock worth $121,000 after buying an additional 1,848 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Provident Financial Services by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 7,533 shares of the savings and loans company’s stock valued at $142,000 after acquiring an additional 4,408 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in Provident Financial Services by 35,936.4% in the fourth quarter. Allworth Financial LP now owns 7,928 shares of the savings and loans company’s stock valued at $151,000 after acquiring an additional 7,906 shares during the last quarter. 71.97% of the stock is owned by institutional investors and hedge funds.

Provident Financial Services Trading Down 1.9 %

Shares of PFS opened at $17.07 on Friday. 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 12 month low of $13.07 and a 12 month high of $22.24. The stock has a market cap of $2.23 billion, a PE ratio of 16.25 and a beta of 1.06. The stock’s 50-day moving average is $18.09 and its two-hundred day moving average is $18.97.

Provident Financial Services (NYSE:PFS) last released its quarterly earnings results on Tuesday, January 28th. The savings and loans company reported $0.37 earnings per share 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%. Equities analysts forecast that Provident Financial Services, Inc. will post 2.14 earnings per share for the current fiscal year.

Provident Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 5.63%. The ex-dividend date was Friday, February 14th. Provident Financial Services’s dividend payout ratio (DPR) is 91.43%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Hovde Group initiated coverage on Provident Financial Services in a report on Friday, December 13th. They issued an “outperform” rating and a $25.00 price objective on the stock. StockNews.com upgraded shares of Provident Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Finally, Royal Bank of Canada reduced their price target on shares of Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.