Last $17.00 USD
Change Today -0.13 / -0.76%
Volume 137.1K
PFS On Other Exchanges
New York
As of 6:40 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

239 Washington Street

Jersey City, NJ 07302

United States

Phone: 732-590-9200


Provident Financial Services, Inc. operates as the holding company for The Provident Bank that provides banking services to individuals, families, and businesses in New Jersey. The company operates 78 full-service branch offices in the New Jersey counties of Hudson, Bergen, Essex, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset and Union. Lending Activities Residential Mortgage Loans: The company originates residential mortgage loans secured by first mortgages on one- to four-family residences, generally located in the state of New Jersey. It originates residential mortgages primarily through commissioned mortgage representatives, the Internet and its branch offices. The company originates both fixed-rate and adjustable-rate mortgages. It originates fixed-rate fully amortizing residential mortgage loans with the principal and interest due each month, that typically have maturities ranging from 10 to 30 years. It also originates fixed-rate residential mortgage loans with maturities of 15, 20 and 30 years that require the payment of principal and interest on a biweekly basis. Commercial Real Estate Loans: The company originates loans secured by mortgages on various commercial income producing properties, including office buildings, multi-family apartment buildings and retail and industrial properties. Multi-family Loans: The company underwrites loans secured by apartment buildings that have five or more units. Construction Loans: The company originates commercial construction loans. Commercial construction lending includes both new construction of residential and commercial real estate projects and the reconstruction of existing structures. Commercial Loans: The company underwrites commercial loans to corporations, partnerships and other businesses. It offers commercial loans for equipment purchases, lines of credit for working capital purposes, letters of credit and real estate loans where the borrower is the primary occupant of the property. The company also underwrites Small Business Administration (SBA) guaranteed loans and guaranteed or assisted loans through various state, county and municipal programs. Consumer Loans: The company offers various consumer loans to individuals. The consumer loan portfolio includes personal loans and unsecured lines of credit, direct auto loans, and recreational vehicle loans. Investment Securities As of December 31, 2012, the company’s investment portfolio included state and municipal obligations; mortgage-backed securities; the Federal Home Loan Mortgage Corporation obligations; the Federal Home Loan Bank of New York obligations; the Federal National Mortgage Association obligations; FFCB obligations; corporate obligations; and equity securities. Deposits The company offers various deposits for retail and business accounts. Deposit products include savings accounts, checking accounts, interest-bearing checking accounts, money market deposit accounts, and certificate of deposit accounts. It also offers IRA and KEOGH accounts. Business customers are offered various checking account and savings plans, cash management services, remote deposit capture services, payroll origination services, escrow account management and business credit cards. Wealth Management Services The company’s Wealth Management Group is a provider of asset management services in New Jersey. The services are often introduced to existing clients through its extensive branch network and lenders throughout the state. It offers a range of asset management services to individuals, municipalities, non-profits, corporations and pension funds. These services include investment management, asset allocation, trust and fiduciary services, financial planning, family office services, estate settlement services and custody. Strategy The company’s strategy is to grow profitably through a commitment to credit quality and expanding market share by acquiring, retaining and expanding customer relationships, while managing interest rate risk. The company’s relationship banking strategy focuses on increasing core accounts and expanding relationships through its branch network, on

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Valuation PFS Industry Range
Price/Earnings 14.1x
Price/Sales 3.9x
Price/Book 1.0x
Price/Cash Flow 14.8x
TEV/Sales NM Not Meaningful

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