Curi RMB Capital LLC Sells 50,000 Shares of Provident Financial Services, Inc. (NYSE:PFS)

Curi RMB Capital LLC trimmed its holdings in Provident Financial Services, Inc. (NYSE:PFS) by 16.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,000 shares of the savings and loans company’s stock after selling 50,000 shares during the period. Curi RMB Capital LLC’s holdings in Provident Financial Services were worth $4,640,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC increased its holdings in shares of Provident Financial Services by 991.2% during the 2nd quarter. Signaturefd LLC now owns 1,855 shares of the savings and loans company’s stock valued at $27,000 after acquiring an additional 1,685 shares during the last quarter. Rise Advisors LLC acquired a new position in Provident Financial Services during the second quarter valued at approximately $29,000. Nisa Investment Advisors LLC grew its holdings in Provident Financial Services by 43.0% during the second quarter. Nisa Investment Advisors LLC now owns 4,050 shares of the savings and loans company’s stock valued at $58,000 after purchasing an additional 1,218 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Provident Financial Services in the first quarter worth $76,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Provident Financial Services by 1,779.7% during the 3rd quarter. International Assets Investment Management LLC now owns 7,876 shares of the savings and loans company’s stock worth $146,000 after buying an additional 7,457 shares during the period. Institutional investors and hedge funds own 71.97% of the company’s stock.

Insider Transactions at Provident Financial Services

In other news, EVP Vito Giannola sold 5,499 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $18.09, for a total value of $99,476.91. Following the completion of the transaction, the executive vice president now directly owns 88,656 shares of the company’s stock, valued at approximately $1,603,787.04. This represents a 5.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of Provident Financial Services from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $20.00 to $21.00 in a report on Thursday, August 15th. Royal Bank of Canada lifted their price objective on Provident Financial Services from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, StockNews.com downgraded Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, Provident Financial Services has an average rating of “Moderate Buy” and an average price target of $20.67.

Provident Financial Services Stock Up 0.5 %

Shares of PFS opened at $21.42 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50-day simple moving average of $18.94 and a 200-day simple moving average of $17.03. Provident Financial Services, Inc. has a 52 week low of $13.07 and a 52 week high of $22.23. The firm has a market capitalization of $2.80 billion, a P/E ratio of 20.60 and a beta of 1.03.

Provident Financial Services (NYSE:PFS) last announced its quarterly earnings data on Tuesday, October 29th. The savings and loans company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The firm had revenue of $349.38 million during the quarter, compared to the consensus estimate of $211.25 million. Provident Financial Services had a return on equity of 5.21% and a net margin of 9.55%. During the same quarter in the prior year, the business posted $0.38 EPS. On average, equities research analysts expect that Provident Financial Services, Inc. will post 1.84 earnings per share for the current year.

Provident Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Friday, November 15th. Provident Financial Services’s dividend payout ratio (DPR) is presently 92.31%.

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.