American International Group Inc. lowered its holdings in shares of Provident Financial Services, Inc. (NYSE:PFS) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,084 shares of the savings and loans company’s stock after selling 566 shares during the quarter. American International Group Inc. owned 0.06% of Provident Financial Services worth $1,160,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in Provident Financial Services by 99.0% during the 3rd quarter. First Trust Advisors LP now owns 79,339 shares of the savings and loans company’s stock valued at $1,948,000 after acquiring an additional 39,463 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Provident Financial Services by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 1,000,369 shares of the savings and loans company’s stock worth $24,560,000 after acquiring an additional 28,701 shares during the last quarter. BlackRock Inc. boosted its position in shares of Provident Financial Services by 4.0% in the third quarter. BlackRock Inc. now owns 8,895,360 shares of the savings and loans company’s stock worth $218,380,000 after acquiring an additional 343,516 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Provident Financial Services by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 5,642,990 shares of the savings and loans company’s stock valued at $138,534,000 after buying an additional 37,896 shares during the period. Finally, Citadel Advisors LLC raised its holdings in Provident Financial Services by 61.4% in the third quarter. Citadel Advisors LLC now owns 84,192 shares of the savings and loans company’s stock valued at $2,067,000 after buying an additional 32,044 shares during the period. 68.30% of the stock is currently owned by institutional investors.
Provident Financial Services stock traded down $0.31 during trading hours on Monday, reaching $26.84. 88,632 shares of the company were exchanged, compared to its average volume of 187,239. Provident Financial Services, Inc. has a 12 month low of $22.22 and a 12 month high of $29.12. The stock has a market capitalization of $1.79 billion, a P/E ratio of 14.75, a PEG ratio of 1.75 and a beta of 0.56. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.08.
In related news, EVP Brian Giovinazzi sold 7,340 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $26.23, for a total value of $192,528.20. Following the completion of the transaction, the executive vice president now directly owns 97,263 shares in the company, valued at $2,551,208.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank L. Fekete sold 5,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.26, for a total value of $136,300.00. Following the completion of the transaction, the director now owns 38,953 shares of the company’s stock, valued at $1,061,858.78. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
PFS has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Sandler O’Neill raised shares of Provident Financial Services from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, December 20th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $27.50.
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About Provident Financial Services
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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