Wellington Management Group LLP Has $32.81 Million Stock Holdings in Provident Financial Services, Inc. (NYSE:PFS)

Wellington Management Group LLP lowered its position in shares of Provident Financial Services, Inc. (NYSE:PFS) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,738,466 shares of the savings and loans company’s stock after selling 116,130 shares during the quarter. Wellington Management Group LLP’s holdings in Provident Financial Services were worth $32,805,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PFS. Nomura Asset Management Co. Ltd. boosted its holdings 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 position in shares of Provident Financial Services during the 4th quarter worth about $99,000. KBC Group NV boosted its stake 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 buying an additional 1,848 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of 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 raised its holdings 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 worth $151,000 after acquiring an additional 7,906 shares in the last quarter. 71.97% of the stock is owned by institutional investors.

Provident Financial Services Price Performance

NYSE:PFS opened at $15.34 on Monday. Provident Financial Services, Inc. has a 12-month low of $13.07 and a 12-month high of $22.24. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 14.61 and a beta of 0.84. The stock’s 50 day moving average price is $17.84 and its two-hundred day moving average price is $18.92. 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 released its quarterly earnings data on Tuesday, January 28th. The savings and loans company reported $0.37 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, analysts anticipate that Provident Financial Services, Inc. will post 2.14 earnings per share for the current year.

Provident Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.96 annualized dividend and a yield of 6.26%. Provident Financial Services’s dividend payout ratio is currently 91.43%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PFS. Royal Bank of Canada decreased their price target on Provident Financial Services from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. StockNews.com raised shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Finally, Hovde Group started coverage on shares of Provident Financial Services in a report on Friday, December 13th. They set an “outperform” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.