Provident Financial Services Inc

Chart & Performance

D1W1MN

P/E

18.89

P/S

5.37

EPS

0.98

Div Yield, %

2.99%

Shrs. gr., 5y

2.84%

Rev. gr., 5y

4.67%

Revenues

451m

-10.68%

Net income

128m

-26.90%

CFO

173m

-13.44%

Dividend

Aug 16, 20240.24 USD/sh

Earnings

Jan 23, 2025

Profile

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. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products. Its 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, marine loans, personal loans and unsecured lines of credit, and auto and recreational vehicle loans. The company also offers cash management, remote deposit capture, payroll origination, escrow account management, and online and mobile banking services; and business credit cards. In addition, it provides wealth management services comprising investment management, trust and estate administration, financial planning, tax compliance and planning, and private banking. Further, the company 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. As of December 31, 2021, it operated 96 full-service branch offices in northern and central New Jersey, as well as in Pennsylvania and New York counties. The company was founded in 1839 and is headquartered in Jersey City, New Jersey.

URL

https://www.provident.bank/

IPO date

Jan 16, 2003

Employees

1,124

Domiciled in

Incorporated in

Valuation

Order:

Title USD in thousands, except ratios and share amounts	FY	FY	FY	FY	FY	FY	FY	FY	FY
Title USD in thousands, except ratios and share amounts	2023‑12	2022‑12	2021‑12	2020‑12	2019‑12	2018‑12	2017‑12	2016‑12	2015‑12
Income
Revenues	451,379 -10.68%	505,341 11.60%
Cost of revenue	255,980	200,620
Unusual Expense (Income)
NOPBT	195,399	304,721
NOPBT Margin	43.29%	60.30%
Operating Taxes	47,381	64,458
Tax Rate	24.25%	21.15%
NOPAT	148,018	240,263
Net income	128,398 -26.90%	175,648 4.60%
Dividends	(72,447)	(72,023)
Dividend yield	5.37%	4.51%
Proceeds from repurchase of equity	270,970	116,457
BB yield	-20.07%	-7.29%
Debt
Debt current		881,866
Long-term debt	895,521	1,401,856
Deferred revenue		12,141,235
Other long-term liabilities	11,674,712	(1,347,863)
Net debt	(1,339,196)	(1,898,952)
Cash flow
Cash from operating activities	173,396	200,310
CAPEX	(7,488)	(9,411)
Cash from investing activities	(469,600)	(647,564)
Cash from financing activities	289,951	(78,701)
FCF	(6,817,348)	887,572
Balance
Cash	180,255	1,990,056
Long term investments	2,054,462	2,192,618
Excess cash	2,212,148	4,157,407
Stockholders' equity	829,363	753,945
Invested Capital	13,381,447	4,027,838
ROIC	1.70%	6.10%
ROCE	1.38%	6.31%
EV
Common stock shares outstanding	74,873	74,782
Price	18.03 -15.59%	21.36 -11.81%
Market cap	1,349,965 -15.49%	1,597,351 -13.86%
EV	10,769	(301,601)
EBITDA	217,589	328,414
EV/EBITDA	0.05
Interest	216,366	48,629
Interest/NOPBT	110.73%	15.96%