Provident Financial Services (PFS)

Company Profile

established in 1839, provident bank has a strong history of service and stability. as we expanded, our capabilities grew to rival larger regional and national banks. however, our advantage over those larger banks is that we have also maintained our commitment to providing personal service. we serve individual and commercial customers with a wide scope of products and services. from personal checking to commercial loans, each account comes with individual attention from a provident banker. provident bank is the wholly owned subsidiary of provident financial services, inc. (nyse:pfs) and serves its customers through an extensive network of more than 80 branches throughout new jersey and pennsylvania and telephone and online banking systems. member fdic

Company profile

Ticker

PFS

Exchange

NYSE

Website

www.snl.com/irw/corporateprofile/4080424

CEO

Christopher Martin

Incorporated

Delaware

Location

New Jersey

Fiscal year end

Dec 31

Sector

Finance and Insurance > Savings Institutions

Industry (SIC)

Savings Institution, Federally Chartered

E Trade Financial • People's United Financial • BankUnited • Umpqua • TFS Financial • Eastern Bankshares • Capitol Federal Financial • Columbia Financial • Brookline Bancorp • Flagstar Bancorp ...

SEC CIK

0001178970

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

IRS number

421547151

PFS stock data

1M 1Y 5Y

Latest filings (excl ownership)

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8 Aug 23

Provident Financial Services, Inc. Announces Second Quarter Earnings

10 May 23

Submission of Matters to a Vote of Security Holders

1 May 23

8-K

Provident Financial Services, Inc. Announces First Quarter Earnings and Declares Quarterly Cash Dividend

28 Apr 23

8-K

Departure of Directors or Certain Officers

4 Apr 23

ARS

2022 FY

Annual report to shareholders

17 Mar 23

DEFA14A

Additional proxy soliciting materials

Transcripts

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PFS

Earnings call transcript

2023 Q1

28 Apr 23

PFS

Earnings call transcript

2022 Q3

28 Oct 22

PFS

Earnings call transcript

2022 Q2

29 Jul 22

PFS

Earnings call transcript

2022 Q1

29 Apr 22

PFS

Earnings call transcript

2021 Q4

28 Jan 22

PFS

Earnings call transcript

2022 Q4

27 Jan 22

PFS

Earnings call transcript

2021 Q3

30 Oct 21

PFS

Earnings call transcript

2021 Q2

31 Jul 21

PFS

Earnings call transcript

2021 Q1

1 May 21

PFS

Earnings call transcript

2020 Q4

29 Jan 21

Latest ownership filings

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Annual report of employee stock purchases (amended)

30 Jun 23

11-K

Annual report of employee stock purchases

Financial summary

Financial statements Chart PFS financial data

Quarter (USD)	Jun 23	Mar 23	Dec 22	Sep 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20	Dec 19
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)	208.87 mm	208.87 mm	208.87 mm	208.87 mm	208.87 mm	208.87 mm
Cash burn (monthly)	8.33 mm	5.72 mm	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	24.47 mm	16.81 mm	n/a	n/a	n/a	n/a
Cash remaining	184.41 mm	192.06 mm	n/a	n/a	n/a	n/a
Runway (months of cash)	22.1	33.6	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q2 2023

PFS institutional ownership history Ownership history

72.2% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	182	188	-3.2%
Opened positions	25	24	+4.2%
Closed positions	31	30	+3.3%
Increased positions	58	61	-4.9%
Reduced positions	67	63	+6.3%

13F shares	Current	Prev Q	Change
Total value	885.32 bn	1.01 tn	-12.2%
Total shares	54.61 mm	52.93 mm	+3.2%
Total puts	12.20 k	8.00 k	+52.5%
Total calls	8.80 k	23.40 k	-62.4%
Total put/call ratio	1.4	0.3	+305.5%

Largest owners	Shares	Value	Change
BLK Blackrock	11.06 mm	$180.80 bn	-0.1%
Vanguard	8.67 mm	$141.73 bn	-1.6%
Dimensional Fund Advisors	5.61 mm	$91.74 bn	-4.4%
STT State Street	4.09 mm	$66.77 bn	+3.4%
American Century Companies	2.19 mm	$35.83 bn	+3.3%
WHG Westwood	1.80 mm	$29.41 bn	+14.8%
PFG Principal Financial Group Inc - Registered Shares	1.72 mm	$28.13 bn	-8.1%
Millennium Management	1.63 mm	$26.56 bn	NEW
Geode Capital Management	1.46 mm	$23.89 bn	+3.2%
BK Bank Of New York Mellon	1.01 mm	$16.55 bn	-1.3%

Largest transactions	Shares	Bought/sold	Change
Millennium Management	1.63 mm	+1.63 mm	NEW
JHG Janus Henderson	350.41 k	-461.78 k	-56.9%
GS Goldman Sachs	314.19 k	-279.28 k	-47.1%
Dimensional Fund Advisors	5.61 mm	-260.28 k	-4.4%
WHG Westwood	1.80 mm	+231.64 k	+14.8%
HBK Investments L P	228.22 k	+191.14 k	+515.3%
IVZ Invesco	515.36 k	-183.31 k	-26.2%
Empowered Funds	163.68 k	+163.68 k	NEW
Alpha Architect ETF Trust	163.68 k	+163.68 k	NEW
HRT Financial	216.92 k	+153.98 k	+244.6%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

PFS insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
13 Sep 23	Walter Sierotko	Common Stock	Buy	Acquire P	Yes	No	15.69	271	4.25 k	14,100
13 Sep 23	Walter Sierotko	Common Stock	Buy	Acquire P	Yes	No	15.685	100	1.57 k	13,829
13 Sep 23	Walter Sierotko	Common Stock	Buy	Acquire P	Yes	No	15.68	1,286	20.16 k	13,729
13 Sep 23	Walter Sierotko	Common Stock	Buy	Acquire P	Yes	No	15.6799	300	4.70 k	12,443
13 Sep 23	Walter Sierotko	Common Stock	Buy	Acquire P	Yes	No	15.675	126	1.98 k	12,143
13 Sep 23	Walter Sierotko	Common Stock	Buy	Acquire P	Yes	No	15.67	643	10.08 k	12,017
13 Sep 23	Walter Sierotko	Common Stock	Buy	Acquire P	Yes	No	15.665	149	2.33 k	11,374
13 Sep 23	Walter Sierotko	Common Stock	Buy	Acquire P	Yes	No	15.66	700	10.96 k	11,225
13 Sep 23	Walter Sierotko	Common Stock	Buy	Acquire P	Yes	No	15.655	801	12.54 k	10,525
13 Sep 23	Walter Sierotko	Common Stock	Buy	Acquire P	Yes	No	15.65	313	4.90 k	9,724