Jane Street Group LLC bought a new position in Provident Financial Services, Inc. (NYSE:PFS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,782 shares of the savings and loans company’s stock, valued at approximately $300,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its position in Provident Financial Services by 1,731.4% in the second quarter. Public Employees Retirement System of Ohio now owns 38,788 shares of the savings and loans company’s stock worth $560,000 after buying an additional 36,670 shares during the period. Sei Investments Co. acquired a new stake in Provident Financial Services in the second quarter worth $210,000. Private Advisor Group LLC acquired a new stake in Provident Financial Services in the second quarter worth $128,000. Captrust Financial Advisors acquired a new stake in Provident Financial Services in the second quarter worth $158,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Provident Financial Services in the second quarter worth $40,000. 66.59% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP John R. Kamin sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $13.41, for a total transaction of $53,640.00. Following the completion of the transaction, the executive vice president now owns 8,484 shares of the company’s stock, valued at $113,770.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.40% of the company’s stock.
Several equities research analysts have weighed in on the company. ValuEngine raised Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, September 3rd. Zacks Investment Research lowered Provident Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, July 18th.
Shares of PFS opened at $12.01 on Friday. The firm has a market capitalization of $791.15 million, a price-to-earnings ratio of 8.96 and a beta of 0.95. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.07. Provident Financial Services, Inc. has a one year low of $9.05 and a one year high of $25.49. The stock’s fifty day moving average is $13.38 and its 200-day moving average is $13.47.
Provident Financial Services (NYSE:PFS) last issued its quarterly earnings results on Thursday, July 30th. The savings and loans company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $84.19 million for the quarter, compared to analyst estimates of $86.27 million. Provident Financial Services had a return on equity of 6.15% and a net margin of 20.60%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. Analysts forecast that Provident Financial Services, Inc. will post 0.85 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, August 13th. This represents a $0.92 annualized dividend and a yield of 7.66%. Provident Financial Services’s dividend payout ratio is currently 52.87%.
Provident Financial Services Profile
Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking services to individuals, families, and businesses in the United States. The company’s deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA, and KEOGH products.
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