Comerica Bank sells 1,220 shares of Provident Financial Services, Inc. (NYSE: PFS)


Comerica Bank reduced its holdings of Provident Financial Services, Inc. (NYSE:PFS – Get Rating) stock by 1.8% in the first quarter, HoldingsChannel reports. The fund held 65,808 shares of the savings and loan company after selling 1,220 shares during the quarter. Comerica Bank’s holdings in Provident Financial Services were worth $1,504,000 at the end of the last quarter.

Other institutional investors have also recently increased or reduced their stake in the company. Raymond James Financial Services Advisors Inc. increased its position in Provident Financial Services by 5.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,310 shares of the savings and loans company worth $250,000 after acquiring 516 additional shares in the last quarter. Connor Clark & ​​Lunn Investment Management Ltd. acquired a new position in Provident Financial Services stock in Q4 worth approximately $277,000. Yousif Capital Management LLC acquired a new position in shares of Provident Financial Services in Q4 worth approximately $1,723,000. Teacher Retirement System of Texas raised its position in shares of Provident Financial Services by 20.9% in the fourth quarter. Teacher Retirement System of Texas now owns 15,128 shares of the savings and loan company worth $366,000 after purchasing 2,611 additional shares during the period. Finally, Quantedge Capital Pte Ltd increased its position in shares of Provident Financial Services by 78.5% in the 4th quarter. Quantedge Capital Pte Ltd now owns 16,600 shares in the savings and loan company worth $402,000 after purchasing an additional 7,300 shares during the period. 63.82% of the shares are held by institutional investors.

Stock of pension financial services up 0.0%

NYSE PFS shares opened at $23.61 on Wednesday. The company has a debt ratio of 0.28, a quick ratio of 0.89 and a current ratio of 0.89. Provident Financial Services, Inc. has a 52-week low of $20.92 and a 52-week high of $26.20. The company’s 50-day moving average price is $22.53 and its 200-day moving average price is $23.09. The company has a market capitalization of $1.78 billion, a P/E ratio of 11.03 and a beta of 0.88.

Provident Financial Services (NYSE:PFS – Get Rating) last released its results on Friday, April 29. The savings and loan company reported earnings per share (EPS) of $0.58 for the quarter, beating consensus analyst estimates of $0.47 by $0.11. Provident Financial Services posted a net margin of 33.46% and a return on equity of 9.79%. The company posted revenue of $114.67 million for the quarter, versus a consensus estimate of $115.10 million. In the same quarter of the previous year, the company achieved EPS of $0.63. Stock analysts expect Provident Financial Services, Inc. to post earnings per share of 2.21 for the current year.

Provident Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 27. Investors of record on Friday, May 13 received a dividend of $0.24 per share. The ex-dividend date was Thursday, May 12. This represents a dividend of $0.96 on an annualized basis and a dividend yield of 4.07%. Provident Financial Services’ payout ratio is currently 44.86%.

Insider Activity at Provident Financial Services

Separately, CEO George Lista sold 3,000 shares of the company in a trade on Wednesday, May 11. The shares were sold at an average price of $22.23, for a total transaction of $66,690.00. As a result of the transaction, the CEO now owns 106,873 shares of the company, valued at approximately $2,375,786.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. In other news from Provident Financial Services, Executive Vice President Valerie O. Murray acquired 1,400 shares in a transaction on Tuesday, June 14. The shares were purchased at an average price of $21.62 per share, for a total transaction of $30,268.00. Following the completion of the acquisition, the executive vice president now owns 39,683 shares of the company, valued at approximately $857,946.46. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Additionally, CEO George Lista sold 3,000 shares of the company in a trade on Wednesday, May 11. The stock was sold at an average price of $22.23, for a total transaction of $66,690.00. As a result of the transaction, the CEO now owns 106,873 shares of the company, valued at approximately $2,375,786.79. The disclosure of this sale can be found here. 4.26% of the shares are held by insiders.

Analyst upgrades and downgrades

Separately, StockNews.com began covering Provident Financial Services stocks in a research report on Thursday, March 31. They issued a “holding” rating on the stock.

Provident financial services company profile

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Provident Financial Services, Inc. operates as a bank holding company for Provident Bank which provides various personal, family and business banking products and services in the United States. The Company’s deposit products include savings, checks, interest-bearing checks, money market deposits and certificates of deposit accounts, as well as IRA products.

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Want to see which other hedge funds hold PFS? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Provident Financial Services, Inc. (NYSE:PFS – Get Rating).

Institutional ownership by quarter for Provident Financial Services (NYSE:PFS)



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