Last $17.66 USD
Change Today -0.02 / -0.11%
Volume 126.3K
PFS On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 11/26/14 All times are local (Market data is delayed by at least 15 minutes).

provident financial services (PFS) Snapshot

Open
$17.75
Previous Close
$17.68
Day High
$17.75
Day Low
$17.50
52 Week High
12/24/13 - $19.93
52 Week Low
05/15/14 - $16.06
Market Cap
1.2B
Average Volume 10 Days
118.8K
EPS TTM
$1.24
Shares Outstanding
65.3M
EX-Date
11/12/14
P/E TM
14.2x
Dividend
$0.60
Dividend Yield
3.40%
Current Stock Chart for PROVIDENT FINANCIAL SERVICES (PFS)

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provident financial services (PFS) Details

Provident Financial Services, Inc. operates as the holding company for The Provident Bank, which provides banking services to individuals, families, and businesses in New Jersey. Its deposit products include savings, checking, interest-bearing checking, money market deposit, and certificates of deposit accounts, as well as IRA and KEOGH accounts. The company’s loan portfolio comprises commercial real estate loans that are secured by income-producing properties, such as multi-family apartment buildings, office buildings, and retail and industrial properties; commercial business loans; fixed-rate and adjustable-rate mortgage loans collateralized by one- to four-family residential real estate properties; commercial construction loans; and consumer loans consisting of home equity loans, home equity lines of credit, and marine loans. It also offers cash management, remote deposit capture, payroll origination, escrow account management, and online banking services; and business credit cards. In addition, the company provides trust and estate administrative services; and asset management services comprising investment management, asset allocation, trust and fiduciary, financial planning, family office, estate settlement, and custody services to individuals, municipalities, non-profits, corporations, and pension funds. Further, it sells insurance and investment products, including annuities; operates as a real estate investment trust for acquiring mortgage loans and other real estate related assets; invests in real estate development joint ventures principally targeted to meet the housing needs of low and moderate-income communities; and manages and sells real estate properties acquired through foreclosure. As of December 31, 2013, the company operated 77 full-service branch offices in northern and central New Jersey. Provident Financial Services, Inc. was founded in 1839 and is headquartered in Jersey City, New Jersey.

830 Employees
Last Reported Date: 03/3/14
Founded in 1839

provident financial services (PFS) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $608.8K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $349.3K
Chief Lending Officer of Provident Bank and E...
Total Annual Compensation: $314.6K
Executive Vice President, General Counsel, C...
Total Annual Compensation: $312.7K
Executive Vice President of The Provident Ban...
Total Annual Compensation: $259.8K
Compensation as of Fiscal Year 2013.

provident financial services (PFS) Key Developments

Provident Financial Services, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Announces Net Charge-Offs for the Third Quarter Ended September 30, 2014; Declares Dividend for the Third Quarter of 2014, Payable on November 28, 2014

Provident Financial Services, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company announced total interest income of $73,652,000 compared to $62,984,000 for the same period a year ago. Net interest income was $62,969,000 compared to $53,997,000 for the same period a year ago. Income before income tax expense was $26,945,000 compared to $28,063,000 for the same period a year ago. Net income was $19,032,000 compared to $16,076,000 for the same period a year ago. Basic and diluted earnings per share were $0.30 compared to $0.28 for the same period a year ago. Annualized return on average assets was 0.90% compared to 0.88% for the same period a year ago. Annualized return on average equity was 6.68% compared to 6.43% for the same period a year ago. Annualized return on average tangible equity was 10.42% compared to 10.04% for the same period a year ago. Core earnings were $21,228,000 or $0.34 per diluted share. For the nine months, the company announced total interest income of $205,561,000 compared to $188,701,000 for the same period a year ago. Net interest income was $175,571,000 compared to $161,303,000 for the same period a year ago. Income before income tax expense was $74,229,000 compared to $80,692,000 for the same period a year ago. Net income was $52,412,000 compared to $53,132,000 for the same period a year ago. Basic and diluted earnings per share were $0.88 compared to $0.93 for the same period a year ago. Annualized return on average assets was 0.89% compared to 0.98% for the same period a year ago. Annualized return on average equity was 6.53% compared to 7.16% for the same period a year ago. Annualized return on average tangible equity was 10.08% compared to 11.19% for the same period a year ago. Core earnings were $56,706,000 or $0.95 per diluted share. Book value per share at the end of the period was $17.40 compared to $16.64 for the same period a year ago. Tangible book value per share at the end of the period was $11.16 compared to $10.69 for the same period a year ago. Earnings for the nine months ended September 30, 2014 were further impacted by a $790,000, net of tax, non-cash charge resulting from the recognition of a pro rata portion of unrealized losses related to lump sum distributions from the company's frozen pension plan, in order to lower and reduce the volatility of future pension costs. The company announced net charge-offs for the third quarter ended September 30, 2014. For the quarter, the company had net charge-offs of $2.0 million compared with $2.2 million for the same period in 2013. The company’s board of directors declared a quarterly cash dividend of $0.15 per common share payable on November 28, 2014, to stockholders of record as of the close of business on November 14, 2014.

Provident Financial Services, Inc. Presents at Sandler O'Neill + Partners, L.P. 2014 East Coast Financial Services Conference, Nov-13-2014

Provident Financial Services, Inc. Presents at Sandler O'Neill + Partners, L.P. 2014 East Coast Financial Services Conference, Nov-13-2014 . Venue: Naples, Florida, United States.

Provident Financial Services, Inc. to Report Q3, 2014 Results on Oct 29, 2014

Provident Financial Services, Inc. announced that they will report Q3, 2014 results at 8:00 AM, US Eastern Standard Time on Oct 29, 2014

 

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Industry Analysis

PFS

Industry Average

Valuation PFS Industry Range
Price/Earnings 15.0x
Price/Sales 4.2x
Price/Book 1.0x
Price/Cash Flow 16.5x
TEV/Sales NM Not Meaningful
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