Nationwide Fund Advisors lowered its stake in shares of Provident Financial Services, Inc (NYSE:PFS) by 53.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,709 shares of the savings and loans company’s stock after selling 77,651 shares during the quarter. Nationwide Fund Advisors owned 0.10% of Provident Financial Services worth $1,718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Alliancebernstein L.P. increased its position in shares of Provident Financial Services by 2.5% during the second quarter. Alliancebernstein L.P. now owns 84,531 shares of the savings and loans company’s stock worth $2,145,000 after acquiring an additional 2,100 shares during the period. Aberdeen Asset Management PLC UK purchased a new stake in shares of Provident Financial Services during the second quarter worth $4,776,000. Systematic Financial Management LP increased its position in shares of Provident Financial Services by 3.8% during the second quarter. Systematic Financial Management LP now owns 471,698 shares of the savings and loans company’s stock worth $11,972,000 after acquiring an additional 17,223 shares during the period. Swiss National Bank increased its position in shares of Provident Financial Services by 7.0% during the second quarter. Swiss National Bank now owns 104,600 shares of the savings and loans company’s stock worth $2,655,000 after acquiring an additional 6,800 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Provident Financial Services by 14.1% during the second quarter. Prudential Financial Inc. now owns 436,745 shares of the savings and loans company’s stock worth $11,085,000 after acquiring an additional 54,110 shares during the period. 61.23% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the company. BidaskClub lowered Provident Financial Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $25.50 price objective on shares of Provident Financial Services in a research report on Friday, July 14th. ValuEngine lowered Provident Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Sandler O’Neill raised Provident Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. One investment 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’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.50.

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Shares of Provident Financial Services, Inc (NYSE PFS) opened at 27.36 on Wednesday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 18.87 and a beta of 1.01. Provident Financial Services, Inc has a 52-week low of $20.93 and a 52-week high of $28.92. The stock’s 50 day moving average price is $25.75 and its 200-day moving average price is $25.27.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Friday, July 28th. The savings and loans company reported $0.38 EPS for the quarter, beating the Zacks’ 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 business had revenue of $83.87 million for the quarter, compared to the consensus estimate of $81.24 million. During the same quarter last year, the firm posted $0.34 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts predict that Provident Financial Services, Inc will post $1.49 earnings per share for the current fiscal year.

Provident Financial Services Profile

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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