| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 1/6 |
| Past Performance | 5/6 |
| Financial Health | 6/6 |
| Dividends | 6/6 |
PFS Stock Overview
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.
Provident Financial Services Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$22.41 |
| 52 Week High | US$26.20 |
| 52 Week Low | US$20.86 |
| Beta | 0.90 |
| 1 Month Change | 0.99% |
| 3 Month Change | -6.74% |
| 1 Year Change | -10.25% |
| 3 Year Change | -10.36% |
| 5 Year Change | -7.01% |
| Change since IPO | 44.58% |
Recent News & Updates
Provident Financial Services' (NYSE:PFS) Dividend Will Be US$0.24
Provident Financial Services, Inc.'s ( NYSE:PFS ) investors are due to receive a payment of US$0.24 per share on 27th...
Shareholder Returns
| PFS | US Mortgage | US Market | |
|---|---|---|---|
| 7D | 1.7% | 5.9% | 2.7% |
| 1Y | -10.3% | -30.2% | -8.1% |
Return vs Industry: PFS exceeded the US Mortgage industry which returned -33.1% over the past year.
Return vs Market: PFS matched the US Market which returned -10.8% over the past year.
Price Volatility
| PFS volatility | |
|---|---|
| PFS Average Weekly Movement | 2.9% |
| Mortgage Industry Average Movement | 3.9% |
| Market Average Movement | 7.8% |
| 10% most volatile stocks in US Market | 16.9% |
| 10% least volatile stocks in US Market | 2.9% |
Stable Share Price: PFS is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: PFS's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1839 | 1,139 | Tony Labozzetta | https://www.provident.bank |
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.
Provident Financial Services Fundamentals Summary
| PFS fundamental statistics | |
|---|---|
| Market Cap | US$1.63b |
| Earnings (TTM) | US$163.32m |
| Revenue (TTM) | US$468.21m |
10.3x
P/E Ratio1.0x
P/B RatioIs PFS overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| PFS income statement (TTM) | |
|---|---|
| Revenue | US$468.21m |
| Cost of Revenue | US$0 |
| Gross Profit | US$468.21m |
| Other Expenses | US$304.89m |
| Earnings | US$163.32m |
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | 2.18 |
| Gross Margin | 100.00% |
| Net Profit Margin | 34.88% |
| Debt/Equity Ratio | 29.0% |
How did PFS perform over the long term?
See historical performance and comparisonDividends
4.3%
Current Dividend Yield44%
Payout RatioValuation
Is Provident Financial Services undervalued compared to its fair value and its price relative to the market?
Valuation Score
4/6Valuation Score 4/6
Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PFS ($22.41) is trading below our estimate of fair value ($50.29)
Significantly Below Fair Value: PFS is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PFS is good value based on its PE Ratio (10.3x) compared to the US Mortgage industry average (12.1x).
PE vs Market: PFS is good value based on its PE Ratio (10.3x) compared to the US market (15.5x).
Price to Earnings Growth Ratio
PEG Ratio: PFS is poor value based on its PEG Ratio (2.4x)
Price to Book Ratio
PB vs Industry: PFS's PB Ratio (1x) is in line with the US Mortgage industry average.
Future Growth
How is Provident Financial Services forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Future Growth Score
1/6Future Growth Score 1/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
4.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PFS's forecast earnings growth (4.3% per year) is above the savings rate (1.9%).
Earnings vs Market: PFS's earnings (4.3% per year) are forecast to grow slower than the US market (12.5% per year).
High Growth Earnings: PFS's earnings are forecast to grow, but not significantly.
Revenue vs Market: PFS's revenue (6.4% per year) is forecast to grow slower than the US market (7.9% per year).
High Growth Revenue: PFS's revenue (6.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PFS's Return on Equity is forecast to be low in 3 years time (10.2%).
Past Performance
How has Provident Financial Services performed over the past 5 years?
Past Performance Score
5/6Past Performance Score 5/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
11.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PFS has high quality earnings.
Growing Profit Margin: PFS's current net profit margins (34.9%) are higher than last year (32%).
Past Earnings Growth Analysis
Earnings Trend: PFS's earnings have grown by 11% per year over the past 5 years.
Accelerating Growth: PFS's earnings growth over the past year (25.1%) exceeds its 5-year average (11% per year).
Earnings vs Industry: PFS earnings growth over the past year (25.1%) exceeded the Mortgage industry 7.1%.
Return on Equity
High ROE: PFS's Return on Equity (10.1%) is considered low.
Financial Health
How is Provident Financial Services's financial position? (This company is analysed differently as a bank or financial institution)
Financial Health Score
6/6Financial Health Score 6/6
Asset Level
Allowance for Bad Loans
Low Risk Liabilities
Loan Level
Low Risk Deposits
Level of Bad Loans
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: PFS's Assets to Equity ratio (8.4x) is low.
Allowance for Bad Loans: PFS has a sufficient allowance for bad loans (172%).
Low Risk Liabilities: 95% of PFS's liabilities are made up of primarily low risk sources of funding.
Loan Level: PFS has an appropriate level of Loans to Assets ratio (70%).
Low Risk Deposits: PFS's Loans to Deposits ratio (84%) is appropriate.
Level of Bad Loans: PFS has an appropriate level of bad loans (0.5%).
Dividend
What is Provident Financial Services's current dividend yield, its reliability and sustainability?
Dividend Score
6/6Dividend Score 6/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
4.28%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PFS's dividend (4.28%) is higher than the bottom 25% of dividend payers in the US market (1.54%).
High Dividend: PFS's dividend (4.28%) is in the top 25% of dividend payers in the US market (4.06%)
Stability and Growth of Payments
Stable Dividend: PFS's dividends per share have been stable in the past 10 years.
Growing Dividend: PFS's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Earnings Coverage: With its reasonably low payout ratio (43.9%), PFS's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PFS's dividends in 3 years are forecast to be well covered by earnings (43.3% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.3yrs
Average management tenure
CEO
Tony Labozzetta (57 yo)
1.75yrs
Tenure
US$2,006,353
Compensation
Mr. Anthony J. Labozzetta, also known as Tony, serves as President and Chief Executive Officer at Provident Financial Services, Inc. and Provident Bank since January 1, 2022. Mr. Labozzetta served as Presi...
CEO Compensation Analysis
Compensation vs Market: Tony's total compensation ($USD2.01M) is below average for companies of similar size in the US market ($USD5.45M).
Compensation vs Earnings: Tony's compensation has increased by more than 20% in the past year.
Leadership Team
Experienced Management: PFS's management team is seasoned and experienced (5.3 years average tenure).
Board Members
Experienced Board: PFS's board of directors are considered experienced (6.8 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: PFS insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Provident Financial Services, Inc.'s employee growth, exchange listings and data sources
Key Information
- Name: Provident Financial Services, Inc.
- Ticker: PFS
- Exchange: NYSE
- Founded: 1839
- Industry: Thrifts and Mortgage Finance
- Sector: Banks
- Implied Market Cap: US$1.625b
- Shares outstanding: 74.75m
- Website: https://www.provident.bank
Number of Employees
Location
- Provident Financial Services, Inc.
- 239 Washington Street
- Jersey City
- New Jersey
- 7302
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/05/17 00:00 |
| End of Day Share Price | 2022/05/17 00:00 |
| Earnings | 2022/03/31 |
| Annual Earnings | 2021/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.