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Provident Financial Services, Inc.

Provident Financial Services, Inc.

NYSE•PFS
CEO: Mr. Christopher P. Martin
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 2003-01-16
Provident Financial Services, Inc. operates as the bank holding company for Provident Bank that provides various banking products and 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 products. The company's loan portfolio comprises commercial real estate loans that are secured by properties, such as multi-family apartment buildings, office buildings, retail and industrial properties, and office buildings; 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, personal loans and unsecured lines of credit, and auto and recreational vehicle loans. It also offers cash management, remote deposit capture, payroll origination, escrow account management, and online and mobile banking services; and business credit cards. In addition, the company provides wealth management services comprising investment management, trust and estate administration, financial planning, and tax compliance and planning. 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; and manages and sells real estate properties acquired through foreclosure. The company was founded in 1839 and is headquartered in Jersey City, New Jersey.
Contact Information
239 Washington Street, Jersey City, NJ, 07302, United States
732-590-9200
www.provident.bank
Market Cap
$2.70B
P/E (TTM)
10.5
14.3
Dividend Yield
4.7%
52W High
$21.00
52W Low
$14.34
52W Range
95%
Rank42Top 35.8%
4.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$353.70M+9.67%
4-Quarter Trend

EPS

$0.55+52.78%
4-Quarter Trend

FCF

$96.71M+42.44%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Net Income Soars Nine-month net income reached $207.7M, a substantial increase from $67.0M reported for the same period in 2024, driving EPS to $1.59.
Net Interest Margin Expansion NIM improved 20 basis points to 3.38% for the nine months ended September 30, 2025, driven by favorable deposit repricing and asset growth.
Loan Portfolio Growth Loans held for investment grew by $626.7M since year-end 2024, totaling $19.29B, supported by strong deposit growth of $472.4M.
Strong Capital Adequacy Bank Tier 1 Leverage ratio stood at 10.27%, significantly exceeding the 4.00% minimum requirement and PCA levels.

Risk Factors

Non-Performing Asset Increase Total non-performing assets increased $20.9M since year-end 2024 to $102.4M, representing 0.52% of total assets.
Lower Credit Loss Provisioning Provision for credit losses on loans for 9M 2025 was only $4.8M, significantly lower than $78.7M in the prior year period.
Interest Rate Shock Sensitivity Interest rate risk models indicate net interest income could decrease 0.7% ($5.4M) under a sustained 200 basis point rate increase scenario.
CRE Portfolio Concentration Commercial Real Estate loans, including multi-family, represent $11.57B, or 60.0% of total gross loans, exposing the portfolio to regional economic risk.

Outlook

Credit Loss Estimate Volatility Allowance for credit losses remains an estimate subject to significant judgment and short-term volatility based on economic forecasts.
Post-Merger Capital Requirements The Bank must maintain an elevated Tier 1 Leverage ratio of at least 8.5% for three years following the Lakeland merger completion.
Deposit Cost Management Focus Management focuses on maintaining stable core funding while managing increased borrowing costs, averaging 3.96% for Q3 2025.
Future Provisioning Uncertainty Future provisions depend on economic forecasts; a more severe outlook could increase required provisioning by approximately $23.1 million.

Peer Comparison

Revenue (TTM)

Western Alliance BancorporationWAL
$5.21B
+6.2%
First Financial Bancorp.FFBC
$1.27B
+6.9%
WaFd, Inc.WAFD
$1.25B
-12.7%

Gross Margin (Latest Quarter)

WaFd, Inc.WAFD
100.0%
+51.6pp
Banner CorporationBANR
98.4%
+27.5pp
Enterprise Financial Services CorpEFSC
83.6%
+20.5pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
WAL$9.55B10.512.8%5.2%
CVBF$2.80B13.79.2%6.1%
BOH$2.77B15.010.7%2.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
21.5%
Strong Growth
4Q Net Income CAGR
13.9%
Profitability Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Jan 27, 2026
|
EPS:$0.56
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $353.70M+9.7%
    |
    EPS: $0.55+52.8%
    Meet
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $343.38M+27.1%
    |
    EPS: $0.55-600.0%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $332.38M+80.1%
    |
    EPS: $0.49+14.0%
    Beat
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 28, 2025|
    Revenue: $1.14B+63.9%
    |
    EPS: $1.05-39.0%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $322.52M+81.9%
    |
    EPS: $0.36-5.3%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $270.09M+59.5%
    |
    EPS: $-0.11-125.6%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 26, 2024|
    Revenue: $184.57M+11.4%
    |
    EPS: $0.43-20.4%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 28, 2024|
    Revenue: $695.65M+25.6%
    |
    EPS: $1.72-26.8%
    Beat