5,189 Shares in Provident Financial Services, Inc. (NYSE:PFS) Bought by EntryPoint Capital LLC

EntryPoint Capital LLC purchased a new stake in shares of Provident Financial Services, Inc. (NYSE:PFS) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,189 shares of the savings and loans company’s stock, valued at approximately $76,000.

Other institutional investors have also modified their holdings of the company. Westwood Holdings Group Inc. boosted its stake in Provident Financial Services by 1.9% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,885,897 shares of the savings and loans company’s stock valued at $34,003,000 after purchasing an additional 34,730 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Provident Financial Services by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 938,254 shares of the savings and loans company’s stock worth $16,917,000 after buying an additional 48,425 shares in the last quarter. Victory Capital Management Inc. increased its position in Provident Financial Services by 1.9% in the 4th quarter. Victory Capital Management Inc. now owns 630,297 shares of the savings and loans company’s stock valued at $11,364,000 after acquiring an additional 11,778 shares during the period. Norges Bank bought a new stake in Provident Financial Services during the 4th quarter valued at $9,419,000. Finally, Mendon Capital Advisors Corp bought a new stake in Provident Financial Services during the 4th quarter valued at $5,873,000. Institutional investors own 71.97% of the company’s stock.

Analysts Set New Price Targets

PFS has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on Provident Financial Services from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. StockNews.com upgraded shares of Provident Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, DA Davidson upgraded shares of Provident Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.00 to $20.00 in a report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.75.

Provident Financial Services Price Performance

Shares of Provident Financial Services stock opened at $19.01 on Friday. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $19.62. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.25. The stock has a market cap of $2.48 billion, a PE ratio of 11.89 and a beta of 1.03. The company’s 50-day moving average price is $14.98 and its two-hundred day moving average price is $15.28.

Provident Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.24 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.05%. Provident Financial Services’s payout ratio is currently 60.00%.

Provident Financial Services Company 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.