Moody Aldrich Partners LLC increased its holdings in shares of Provident Financial Services, Inc. (NYSE:PFS) by 74.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,888 shares of the savings and loans company’s stock after acquiring an additional 53,456 shares during the period. Moody Aldrich Partners LLC owned about 0.19% of Provident Financial Services worth $3,438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PFS. Legal & General Group Plc boosted its position in Provident Financial Services by 5.8% in the 2nd quarter. Legal & General Group Plc now owns 131,940 shares of the savings and loans company’s stock valued at $3,646,000 after buying an additional 7,266 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Provident Financial Services by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 971,668 shares of the savings and loans company’s stock valued at $26,750,000 after buying an additional 4,041 shares during the last quarter. Aperio Group LLC boosted its position in Provident Financial Services by 18.0% in the 2nd quarter. Aperio Group LLC now owns 22,797 shares of the savings and loans company’s stock valued at $628,000 after buying an additional 3,484 shares during the last quarter. KBC Group NV bought a new position in Provident Financial Services in the 2nd quarter valued at $174,000. Finally, Rhumbline Advisers boosted its position in Provident Financial Services by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 153,787 shares of the savings and loans company’s stock valued at $4,234,000 after buying an additional 3,147 shares during the last quarter. Institutional investors and hedge funds own 65.15% of the company’s stock.

A number of research firms have recently weighed in on PFS. Sandler O’Neill reissued a “hold” rating on shares of Provident Financial Services in a research note on Thursday, June 28th. ValuEngine raised Provident Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday. Piper Jaffray Companies reissued a “hold” rating and issued a $25.50 price target on shares of Provident Financial Services in a research note on Wednesday, August 1st. Boenning Scattergood reissued a “hold” rating on shares of Provident Financial Services in a research note on Friday, July 27th. Finally, Zacks Investment Research downgraded Provident Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, June 28th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $28.25.

Provident Financial Services stock traded down $0.67 during mid-day trading on Friday, hitting $23.15. 152,044 shares of the company’s stock were exchanged, compared to its average volume of 155,803. The company has a market capitalization of $1.65 billion, a PE ratio of 15.23, a PEG ratio of 1.87 and a beta of 0.80. Provident Financial Services, Inc. has a fifty-two week low of $22.81 and a fifty-two week high of $29.12. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.27.

Provident Financial Services (NYSE:PFS) last issued its quarterly earnings data on Friday, July 27th. The savings and loans company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.15). Provident Financial Services had a return on equity of 7.46% and a net margin of 23.56%. The business had revenue of $88.12 million for the quarter, compared to analyst estimates of $87.99 million. During the same period in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. Analysts predict that Provident Financial Services, Inc. will post 1.64 EPS for the current fiscal year.

In other news, Director Matthew K. Harding purchased 1,000 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were purchased at an average price of $25.73 per share, with a total value of $25,730.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.00% of the company’s stock.

Provident Financial Services Profile

Provident Financial Services, Inc operates as the holding company for Provident Bank that provides various banking 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 and KEOGH accounts.

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

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