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Last $19.62 USD
Change Today +0.70 / 3.70%
Volume 323.3K
PFS On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

provident financial services (PFS) Snapshot

Open
$19.17
Previous Close
$18.92
Day High
$19.70
Day Low
$18.98
52 Week High
07/31/15 - $19.70
52 Week Low
10/10/14 - $16.13
Market Cap
1.3B
Average Volume 10 Days
155.9K
EPS TTM
$1.35
Shares Outstanding
65.6M
EX-Date
08/12/15
P/E TM
14.5x
Dividend
$0.64
Dividend Yield
3.16%
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 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 and mobile 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, 2014, the company operated 86 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.

912 Employees
Last Reported Date: 03/2/15
Founded in 1839

provident financial services (PFS) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $639.2K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $364.6K
Executive Vice President, General Counsel, Co...
Total Annual Compensation: $324.7K
Chief Lending Officer of Provident Bank and E...
Total Annual Compensation: $324.7K
Chief Wealth Management Officer of Provident ...
Total Annual Compensation: $286.7K
Compensation as of Fiscal Year 2014.

provident financial services (PFS) Key Developments

Provident Financial Services, Inc. Declares Quarterly Cash Dividend Payable on August 28, 2015; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Tax Rate Guidance for the Year of 2015; Announces Net Charge-offs for the Second Quarter of 2015

Provident Financial Services, Inc. Board of Directors declared a quarterly cash dividend of $0.16 per common share payable on August 28, 2015, to stockholders of record as of the close of business on August 14, 2015. The company reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income of $21.796 million, or $0.35 per basic and diluted share, compared to $16.351 million, or $0.28 per basic and diluted share for the three months ended June 30, 2014. Net interest income increased $4.3 million to $61.7 million, from $57.4 million for the same period in 2014. Income before income tax expense was $31.397 million, compared to $22.557 million for the last year. Annualized return on average assets was 1.01%, compared to 0.84% for the last year. Annualized return on average equity was 7.47%, compared to 6.16% for the last year. Earnings for the quarter were impacted by earnings related to the Team Capital acquisition totaling $1.2 million or $0.02 per share net of tax. The improvement in net interest income for the comparative periods was due to growth in average loans outstanding resulting from loans acquired from Team Capital and organic originations and increases in average non-interest bearing demand deposits, partially offset by period-over-period compression in the net interest margin. Core earnings were $22.043 million or $0.35 per diluted share against $18.339 million or $0.31 a year ago. The increase in total revenue was due to strong growth in Wealth Management income, loan swap fees, deposit service fees, gains on sales of investments and stable net interest income. For the six months, the company reported net income of $41.598 million, or $0.66 per basic and diluted share, compared to $33.380 million, or $0.57 per basic and diluted share for the same period last year. Net interest income for the six months ended June 30, 2015, increased $11.0 million, to $123.6 million, from $112.6 million for the same period in 2014. Income before income tax expense was $59.591 million compared to $47.284 million for the last year. Annualized return on average assets was 0.98%, compared to 0.88% for the last year. Annualized return on average equity was 7.21%, compared to 6.44% for the last year. Core earnings were $41.845 million or $0.67 per diluted share against $35.426 million or $0.61 a year ago. Book value per share was $17.88 as on June 30, 2015. The company reported net charge-offs for the second quarter of 2015 increased to a still low $2.6 million or an annualized 17 basis points of average loans. The company currently expects an effective tax rate of approximately 30% for the remainder of 2015.

Provident Financial Services, Inc. to Report Q2, 2015 Results on Jul 31, 2015

Provident Financial Services, Inc. announced that they will report Q2, 2015 results at 8:00 AM, US Eastern Standard Time on Jul 31, 2015

Provident Financial Services, Inc., Q2 2015 Earnings Call, Jul 31, 2015

Provident Financial Services, Inc., Q2 2015 Earnings Call, Jul 31, 2015

 

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Industry Analysis

PFS

Industry Average

Valuation PFS Industry Range
Price/Earnings 15.1x
Price/Sales 4.2x
Price/Book 1.1x
Price/Cash Flow 15.7x
TEV/Sales NM Not Meaningful
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