State Street Corp Files SC 13G on Provident Financial Services Inc.
Ticker: PFS · Form: SC 13G · Filed: Jan 24, 2024 · CIK: 1178970
| Field | Detail |
|---|---|
| Company | Provident Financial Services Inc (PFS) |
| Form Type | SC 13G |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, SC-13G, passive-investment
TL;DR
**State Street filed an SC 13G on Provident Financial Services, showing 0 shares with sole voting power as of 12/31/2023.**
AI Summary
State Street Corporation, a major financial institution based in Boston, Massachusetts, filed an initial SC 13G on January 24, 2024, disclosing its ownership of Provident Financial Services Inc. common stock as of December 31, 2023. This filing indicates that State Street holds 0 shares with sole voting power, suggesting a passive investment or a change in their holdings that brought them below the reporting threshold for active management. For investors, this matters because it provides transparency into institutional ownership, showing that a significant player like State Street is tracking or has adjusted its position in Provident Financial Services Inc.
Why It Matters
This filing provides transparency into institutional ownership, showing State Street Corporation's position in Provident Financial Services Inc. common stock.
Risk Assessment
Risk Level: low — This is a routine disclosure of institutional ownership, not indicating any immediate risk to the company or its investors.
Analyst Insight
Investors should note that State Street Corporation, a major institutional investor, has reported 0 shares with sole voting power in Provident Financial Services Inc. as of year-end 2023. This could indicate a passive holding, a reduction in their stake below a reporting threshold, or a reclassification of their holdings. It's worth monitoring future filings for any changes in their position, as large institutional movements can sometimes signal broader market sentiment.
Key Numbers
- 0 — Sole Voting Power Shares (Number of shares with sole voting power held by State Street Corporation as of December 31, 2023.)
- 12/31/2023 — Date of Event (The date that triggered the requirement for this SC 13G filing.)
Key Players & Entities
- State Street Corporation (company) — the reporting person filing the SC 13G
- Provident Financial Services Inc (company) — the issuer of the common stock
- Boston, Massachusetts (company) — place of organization for State Street Corporation
- 04-2456637 (person) — IRS Identification No. for State Street Corporation
- 0 (dollar_amount) — shares with sole voting power reported by State Street Corporation
Forward-Looking Statements
- State Street Corporation will continue to monitor its investment in Provident Financial Services Inc. and may adjust its position in future filings. (State Street Corporation) — medium confidence, target: Next reporting period
FAQ
Who filed this SC 13G statement?
The SC 13G statement was filed by State Street Corporation, with an IRS Identification No. of 04-2456637.
What is the subject company of this filing?
The subject company is Provident Financial Services Inc., identified by CIK 0001178970 and CUSIP number 74386T105.
What type of securities are covered by this filing?
The filing covers Common Stock of Provident Financial Services Inc.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023.
How many shares with sole voting power did State Street Corporation report?
State Street Corporation reported 0 shares with sole voting power as of December 31, 2023.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 24, 2024 by 04-2456637 regarding PROVIDENT FINANCIAL SERVICES INC (PFS).