Texas Permanent School Fund Corp grew its stake in shares of Provident Financial Services, Inc. (NYSE:PFS – Free Report) by 33.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 67,507 shares of the savings and loans company’s stock after acquiring an additional 16,900 shares during the quarter. Texas Permanent School Fund Corp owned about 0.09% of Provident Financial Services worth $1,295,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Asset Management One Co. Ltd. increased its stake in shares of Provident Financial Services by 9.0% in the first quarter. Asset Management One Co. Ltd. now owns 98,728 shares of the savings and loans company’s stock valued at $1,894,000 after buying an additional 8,174 shares during the period. Handelsbanken Fonder AB boosted its holdings in Provident Financial Services by 57.5% in the first quarter. Handelsbanken Fonder AB now owns 25,474 shares of the savings and loans company’s stock worth $489,000 after acquiring an additional 9,300 shares in the last quarter. Midwest Professional Planners LTD. lifted its holdings in shares of Provident Financial Services by 20.4% in the fourth quarter. Midwest Professional Planners LTD. now owns 12,875 shares of the savings and loans company’s stock valued at $275,000 after purchasing an additional 2,181 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Provident Financial Services by 3.6% in the fourth quarter. Arizona State Retirement System now owns 20,179 shares of the savings and loans company’s stock valued at $431,000 after purchasing an additional 703 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Provident Financial Services by 40.2% in the fourth quarter. Russell Investments Group Ltd. now owns 88,040 shares of the savings and loans company’s stock valued at $1,881,000 after purchasing an additional 25,231 shares in the last quarter. 70.68% of the stock is currently owned by institutional investors.
Provident Financial Services Stock Performance
Shares of PFS opened at $18.66 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 1.16. The business’s 50 day moving average price is $17.38 and its 200-day moving average price is $19.14. Provident Financial Services, Inc. has a 52 week low of $14.54 and a 52 week high of $25.61. The stock has a market cap of $1.41 billion, a P/E ratio of 8.44 and a beta of 0.94.
Provident Financial Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 11th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.96 annualized dividend and a yield of 5.14%. Provident Financial Services’s dividend payout ratio (DPR) is presently 43.44%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on PFS. Royal Bank of Canada increased their price target on Provident Financial Services from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Monday. StockNews.com initiated coverage on Provident Financial Services in a report on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, Keefe, Bruyette & Woods decreased their price objective on Provident Financial Services from $27.00 to $25.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th.
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.
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