Assenagon Asset Management Boosts Provident Financial Services Stake

Institutional investor increases holding in regional bank by nearly 3,000%

Mar. 27, 2026 at 7:22am

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Assenagon Asset Management S.A. significantly increased its stake in Provident Financial Services, Inc. (NYSE: PFS) during the fourth quarter, according to a recent 13F filing with the SEC. The firm added 761,427 shares, bringing its total holdings to 787,172 shares, or approximately 0.60% of the regional bank's outstanding stock.

Why it matters

The large increase in Assenagon's position in Provident Financial Services suggests the institutional investor sees significant upside potential in the regional bank's stock. Provident Financial Services operates a network of branches across New Jersey, New York, and eastern Pennsylvania, offering personal and commercial banking services.

The details

According to the 13F filing, Assenagon Asset Management S.A. lifted its holdings in Provident Financial Services by 2,957.6% during the fourth quarter. The firm now owns 787,172 shares of the savings and loans company's stock, worth approximately $15.5 million as of the most recent SEC filing.

  • Assenagon increased its Provident Financial Services stake during the fourth quarter of 2025.

The players

Assenagon Asset Management S.A.

An institutional investment management firm that significantly increased its stake in Provident Financial Services.

Provident Financial Services, Inc.

A regional commercial bank headquartered in Jersey City, New Jersey that operates a network of branches across New Jersey, New York, and eastern Pennsylvania.

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The takeaway

The large increase in Assenagon's position in Provident Financial Services suggests the institutional investor sees significant growth potential in the regional bank's stock, which could signal positive momentum for the company's future performance.