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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, 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; residential mortgage loans; 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; and insurance agency operations. Further, it sells insurance and investment products, including annuities; and manages and sells real estate properties acquired through foreclosure. The company was founded in 1839 and is headquartered in Jersey City, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $870M | - | $291M | $431M | 10.3% | 25.3% | 152.0% |
| 2024 | $695M | - | $116M | $425M | 4.4% | 45.0% | -10.0% |
| 2023 | $479M | - | $128M | $166M | 7.6% | -5.2% | -26.9% |
| 2022 | $505M | - | $176M | $191M | 11.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 505.34 | 479.28 | 694.73 | 870.40 |
| Pretax Income | - | 240.11 | 175.78 | 149.62 | 408.16 |
| Tax Provision | - | 64.46 | 47.38 | 34.09 | 117 |
| Net Income | - | 175.65 | 128.40 | 115.52 | 291.16 |
| Net Income Common Stockholders | - | 175.65 | 128.40 | 115.52 | 291.16 |
| Interest Expense | - | 48.63 | 216.37 | 445.52 | 512.21 |
| Interest Income | - | 466.18 | 615.82 | 1,046.14 | 1,272.77 |
| Selling General And Administration | - | 157.59 | 161.90 | 236.45 | 271.56 |
| Normalized Income | - | 178.67 | 134.11 | 159.43 | 291.16 |
| Market Cap | 2,913.81 | 2,913.81 | 2,913.81 | 2,913.81 | 2,913.81 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Provident Financial Services, Inc.this co. | PFS | - | 10.01↓ discount | 1.03 | 10.3% | - |
| Seacoast Banking Corporation of Florida | SBCF | $2.8B | 21.13 | 1.13 | 5.3% | - |
| Merchants Bancorp | MBIN | $2.8B | 10.29 | 1.30 | 12.6% | - |
| Artisan Partners Asset Management Inc. | APAM | $2.7B | 9.24 | 6.11 | 66.2% | 5.40 |
| The Bancorp, Inc. |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| TBBK |
| $2.6B |
| 10.71 |
| 3.54 |
| 33.1% |
| - |
| Acadian Asset Management Inc. | AAMI | $2.5B | 30.27 | 39.96 | 132.0% | 14.22 |
| WisdomTree, Inc. | WT | $2.3B | 21.24 | 5.60 | 26.4% | 16.65 |
| Hilltop Holdings Inc. | HTH | $2.3B | 12.95 | 0.99 | 7.6% | - |
| Stewart Information Services Corporation | STC | $2.0B | 18.87 | 1.33 | 7.0% | - |
| Peer Median | - | 15.91 | 2.44 | 19.5% | 14.22 | |