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Provident Financial Services (PFS)

Provident Bank, a community-oriented financial institution offering 'Commitment you can count on' since 1839, is the wholly owned subsidiary of Provident Financial Services, Inc., which reported assets of $12.92 billion as of December 31, 2020. With $9.84 billion in deposits, Provident Bank provides a comprehensive suite of financial products and services through its network of branches throughout northern and central New Jersey, as well as Bucks, Lehigh and Northampton counties in Pennsylvania and Queens County in New York. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and full service insurance agency and brokerage services through its wholly owned subsidiary, SB One Insurance Agency, Inc.

PFS stock data

Analyst ratings and price targets

Last 3 months

Calendar

10 May 22
10 Aug 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 433.15M 433.15M 433.15M 433.15M 433.15M 433.15M
Cash burn (monthly) 93.11M 21.2M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 403.95M 91.99M n/a n/a n/a n/a
Cash remaining 29.2M 341.16M n/a n/a n/a n/a
Runway (months of cash) 0.3 16.1 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
3 Aug 22 Ravi Vakacherla Common Stock Grant Acquire A No No 0 2,508 0 2,508
14 Jun 22 Valerie O Murray Common Stock Buy Acquire P Yes No 21.865 50 1.09K 500
14 Jun 22 Valerie O Murray Common Stock Buy Acquire P Yes No 21.6 450 9.72K 450
14 Jun 22 Valerie O Murray Common Stock Buy Acquire P No No 21.815 150 3.27K 39,683
14 Jun 22 Valerie O Murray Common Stock Buy Acquire P No No 21.6 1,250 27K 39,533
17 May 22 George Lista Common Stock Sell Dispose S No No 22.15 3,000 66.45K 103,873
11 May 22 George Lista Common Stock Sell Dispose S No No 22.2265 3,000 66.68K 106,873
63.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 182 184 -1.1%
Opened positions 16 31 -48.4%
Closed positions 18 12 +50.0%
Increased positions 55 48 +14.6%
Reduced positions 70 55 +27.3%
13F shares Current Prev Q Change
Total value 1.77B 1.85B -4.2%
Total shares 48.24M 48.89M -1.3%
Total puts 0 60.1K EXIT
Total calls 9.5K 23.5K -59.6%
Total put/call ratio 2.6
Largest owners Shares Value Change
BLK Blackrock 11.35M $265.62M +0.6%
Vanguard 8.07M $188.78M +1.3%
Dimensional Fund Advisors 5.39M $126.1M +1.7%
STT State Street 3.13M $73.33M -3.8%
PFG Principal Financial Group Inc - Registered Shares 1.73M $40.54M +1.7%
American Century Companies 1.58M $37.04M +14.3%
WHG Westwood 1.38M $32.37M -1.4%
Geode Capital Management 1.34M $31.35M +4.3%
IVZ Invesco 1.07M $25.11M +60.2%
BK Bank Of New York Mellon 958.58K $22.43M -0.2%
Largest transactions Shares Bought/sold Change
Norges Bank 0 -807.63K EXIT
JPM JPMorgan Chase & Co. 164K -409.96K -71.4%
IVZ Invesco 1.07M +403.07K +60.2%
Victory Capital Management 582.01K +248.58K +74.6%
American Century Companies 1.58M +198.03K +14.3%
TFO USA 99.41K -161.1K -61.8%
Banc Funds 57.14K -160.07K -73.7%
Renaissance Technologies 366.05K +151.45K +70.6%
STT State Street 3.13M -125.2K -3.8%
HBCYF HSBC 328.08K -117.47K -26.4%

Financial report summary

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Risks
  • Changes to the underlying drivers of our net interest income could adversely affect our results of operations and financial condition.
  • If our allowance for credit losses is not sufficient to cover actual loan losses, our earnings could decrease.
  • Commercial real estate, commercial and industrial and construction loans expose us to increased risk and earnings volatility.
  • We operate in a highly regulated environment and may be adversely affected by changes in laws and regulations.
  • As a financial institution with assets greater than $10 Billion, we are subject to additional regulation and increased supervision, including by the CFPB.
  • We face regulatory scrutiny based on our commercial real estate lending.
  • Future acquisitions may be delayed, impeded, or prohibited due to regulatory issues.
  • We may experience impairments of goodwill or other intangible assets in the future.
  • Climate change and related governmental action may materially affect the Company’s business and results of operations.
  • The economic impact of the COVID-19 outbreak has adversely affected, and is likely to continue to adversely affect, the Company's business and results of operations.
  • Governmental and regulatory actions to mitigate the impact of the COVID-19 pandemic could result in a material decline in
  • Acts of terrorism, severe weather, natural disasters, public health issues, geopolitical and other external events could impact our ability to conduct business.
  • A general economic slowdown or uncertainty that produces either reduced returns or excessive market volatility could adversely impact our overall profitability, including our wealth management fee income.
  • We may not be able to detect money laundering and other illegal or improper activities fully or on a timely basis, which could expose us to additional liability and could have a material adverse effect on us.
  • We are subject to liquidity risk.
  • Strong competition within our market area may limit our growth and profitability.
  • A cyber-attack, data breach, or a technology failure of ours could adversely affect our ability to conduct our business or manage our exposure to risk, result in the disclosure or misuse of confidential or proprietary information, increase our costs to maintain and update our operational and security systems and infrastructure, and adversely impact our results of operations, liquidity and financial condition, as well as cause reputational harm.
  • We rely on third-party providers and other suppliers for a number of services that are important to our business. A breach, failure, interruption, cessation of an important service by any third party could have a material adverse effect on our business, as well as cause reputational harm.
  • Failure to keep pace with technological changes could adversely affect our business.

Content analysis

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H.S. sophomore Bad
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