Sound Income Strategies LLC Has $12.27 Million Holdings in Provident Financial Services, Inc $PFS

Sound Income Strategies LLC lifted its stake in shares of Provident Financial Services, Inc (NYSE:PFS) by 17.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 637,792 shares of the savings and loans company’s stock after acquiring an additional 93,105 shares during the quarter. Sound Income Strategies LLC’s holdings in Provident Financial Services were worth $12,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in PFS. EverSource Wealth Advisors LLC lifted its holdings in Provident Financial Services by 358.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the savings and loans company’s stock valued at $27,000 after buying an additional 1,210 shares during the period. GAMMA Investing LLC raised its stake in Provident Financial Services by 45.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,767 shares of the savings and loans company’s stock worth $34,000 after buying an additional 548 shares during the period. Hantz Financial Services Inc. boosted its holdings in Provident Financial Services by 633.8% in the second quarter. Hantz Financial Services Inc. now owns 2,040 shares of the savings and loans company’s stock worth $36,000 after acquiring an additional 1,762 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Provident Financial Services in the 2nd quarter valued at about $39,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Provident Financial Services by 30.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,893 shares of the savings and loans company’s stock worth $50,000 after buying an additional 667 shares in the last quarter. Institutional investors own 71.97% of the company’s stock.

Provident Financial Services Trading Down 1.4%

NYSE PFS opened at $20.90 on Friday. Provident Financial Services, Inc has a twelve month low of $14.34 and a twelve month high of $21.29. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average is $19.19 and its 200 day moving average is $18.83. The firm has a market capitalization of $2.73 billion, a PE ratio of 10.66 and a beta of 0.88.

Provident Financial Services (NYSE:PFS) last announced its earnings results on Thursday, February 17th. The savings and loans company reported $0.68 earnings per share for the quarter. Provident Financial Services had a net margin of 18.76% and a return on equity of 9.62%. The business had revenue of $114.54 million during the quarter. Research analysts forecast that Provident Financial Services, Inc will post 2.14 earnings per share for the current fiscal year.

Provident Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, November 14th. Provident Financial Services’s dividend payout ratio is currently 48.98%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PFS. DA Davidson lowered Provident Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Provident Financial Services in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Provident Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.70.

Insider Activity at Provident Financial Services

In other Provident Financial Services news, CEO George Lista sold 8,262 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $18.35, for a total transaction of $151,607.70. Following the sale, the chief executive officer directly owned 108,656 shares in the company, valued at approximately $1,993,837.60. This trade represents a 7.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.

Provident Financial Services Profile

Provident Financial Services, Inc is the bank holding company for Provident Bank, a regional commercial bank headquartered in Jersey City, New Jersey. The company operates a network of full-service branches across New Jersey, the New York metropolitan area and eastern Pennsylvania, offering a range of personal and business banking solutions.

Its core products and services include checking and savings accounts, consumer and residential mortgage loans, commercial real estate financing and small-business lending.