Schwab Charles Investment Management Inc. lifted its stake in shares of Provident Financial Services, Inc (NYSE:PFS) by 9.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,707 shares of the savings and loans company’s stock after buying an additional 29,986 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.50% of Provident Financial Services worth $8,419,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Provident Financial Services during the first quarter worth $136,000. OppenheimerFunds Inc. acquired a new stake in shares of Provident Financial Services during the first quarter worth $293,000. State of Alaska Department of Revenue lifted its stake in shares of Provident Financial Services by 79.6% during the second quarter. State of Alaska Department of Revenue now owns 11,980 shares of the savings and loans company’s stock worth $304,000 after buying an additional 5,310 shares during the period. Mason Street Advisors LLC lifted its stake in shares of Provident Financial Services by 7.7% during the first quarter. Mason Street Advisors LLC now owns 14,140 shares of the savings and loans company’s stock worth $366,000 after buying an additional 1,007 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Provident Financial Services by 4.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 14,280 shares of the savings and loans company’s stock worth $362,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 61.23% of the company’s stock.

A number of research analysts recently issued reports on PFS shares. Zacks Investment Research downgraded shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Royal Bank Of Canada restated a “buy” rating and set a $30.00 target price on shares of Provident Financial Services in a research report on Friday, September 8th. DA Davidson started coverage on shares of Provident Financial Services in a research report on Friday, September 1st. They set a “neutral” rating and a $25.00 target price for the company. BidaskClub downgraded shares of Provident Financial Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, ValuEngine downgraded shares of Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $27.50.

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Provident Financial Services, Inc (PFS) opened at 27.05 on Friday. Provident Financial Services, Inc has a 52-week low of $20.79 and a 52-week high of $28.92. The firm has a market capitalization of $1.74 billion, a P/E ratio of 18.66 and a beta of 1.01. The company’s 50-day moving average is $25.24 and its 200-day moving average is $25.18.

Provident Financial Services (NYSE:PFS) last released its earnings results on Friday, July 28th. The savings and loans company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Provident Financial Services had a net margin of 25.39% and a return on equity of 7.40%. The company had revenue of $83.87 million during the quarter, compared to analysts’ expectations of $81.24 million. During the same quarter last year, the business earned $0.34 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Provident Financial Services, Inc will post $1.49 EPS for the current year.

About Provident Financial Services

Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.

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Institutional Ownership by Quarter for Provident Financial Services (NYSE:PFS)

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