Rosenthal Henry Capital Advisors Inc. Makes New Investment in Provident Financial Services, Inc $PFS

Rosenthal Henry Capital Advisors Inc. acquired a new position in shares of Provident Financial Services, Inc (NYSE:PFS) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 68,962 shares of the savings and loans company’s stock, valued at approximately $1,330,000. Rosenthal Henry Capital Advisors Inc. owned approximately 0.05% of Provident Financial Services at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PFS. Royal Bank of Canada raised its stake in shares of Provident Financial Services by 23.9% during the 1st quarter. Royal Bank of Canada now owns 44,106 shares of the savings and loans company’s stock worth $758,000 after purchasing an additional 8,507 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Provident Financial Services by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,926 shares of the savings and loans company’s stock valued at $1,286,000 after purchasing an additional 3,277 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Provident Financial Services by 6.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 256,739 shares of the savings and loans company’s stock valued at $4,408,000 after purchasing an additional 15,112 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Provident Financial Services by 247.5% in the 1st quarter. Jane Street Group LLC now owns 312,478 shares of the savings and loans company’s stock valued at $5,365,000 after purchasing an additional 222,549 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in Provident Financial Services by 45.6% during the first quarter. Intech Investment Management LLC now owns 73,261 shares of the savings and loans company’s stock worth $1,258,000 after buying an additional 22,961 shares during the last quarter. Institutional investors and hedge funds own 71.97% of the company’s stock.

Insider Buying and Selling at Provident Financial Services

In other news, CEO George Lista sold 8,262 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $18.35, for a total transaction of $151,607.70. Following the transaction, the chief executive officer owned 108,656 shares of the company’s stock, valued at $1,993,837.60. This represents a 7.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.10% of the stock is currently owned by insiders.

Provident Financial Services Stock Down 0.0%

PFS opened at $19.74 on Wednesday. The firm’s fifty day moving average price is $19.68 and its two-hundred day moving average price is $19.25. The company has a market capitalization of $2.58 billion, a P/E ratio of 10.07 and a beta of 0.85. Provident Financial Services, Inc has a fifty-two week low of $14.34 and a fifty-two week high of $21.29. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.02 and a quick ratio of 1.02.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Thursday, October 30th. The savings and loans company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $221.68 million during the quarter, compared to analyst estimates of $220.90 million. Provident Financial Services had a net margin of 18.76% and a return on equity of 9.62%. During the same quarter in the prior year, the business posted $0.36 earnings per share. On average, analysts anticipate that Provident Financial Services, Inc will post 2.14 EPS for the current year.

Provident Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, November 14th. Provident Financial Services’s dividend payout ratio (DPR) is 48.98%.

Wall Street Analyst Weigh In

PFS has been the topic of a number of recent analyst reports. DA Davidson downgraded Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Provident Financial Services in a report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.70.

Provident Financial Services Company Profile

Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.

Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.