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Complete financial analysis of Provident Financial Services, Inc. (PFS) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Provident Financial Services, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.
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Provident Financial Services, Inc. (PFS)
About Provident Financial Services, Inc.
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.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 451.38M | 505.34M | 452.83M | 385.00M | 361.77M | 359.35M | 333.90M | 313.96M | 305.10M | 280.06M | 260.16M | 260.95M | 248.83M | 240.69M | 214.50M | 202.28M | 185.47M | 196.48M | 210.68M | 191.51M | 153.71M | 138.21M | 23.14M |
| Cost of Revenue | 47.40M | 43.03M | 38.61M | 36.20M | 33.83M | 31.07M | 28.80M | 27.59M | 28.84M | 27.72M | 24.46M | 25.45M | 23.24M | 23.08M | 25.12M | 22.65M | 20.77M | 18.89M | 19.72M | 21.26M | 19.41M | 0.00 | 0.00 |
| Gross Profit | 403.98M | 462.31M | 414.22M | 348.81M | 327.94M | 328.28M | 305.10M | 286.37M | 276.26M | 252.34M | 235.70M | 235.50M | 225.59M | 217.60M | 189.38M | 179.64M | 164.71M | 177.59M | 190.96M | 170.25M | 134.30M | 138.21M | 23.14M |
| Gross Profit Ratio | 89.50% | 91.48% | 91.47% | 90.60% | 90.65% | 91.35% | 91.38% | 91.21% | 90.55% | 90.10% | 90.60% | 90.25% | 90.66% | 90.41% | 88.29% | 88.81% | 88.80% | 90.38% | 90.64% | 88.90% | 87.37% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 203.76M | 152.40M | 149.63M | 133.98M | 118.17M | 114.98M | 113.24M | 111.03M | 104.73M | 96.88M | 87.68M | 85.97M | 90.29M | 86.48M | 89.84M | 76.96M | 72.18M | 63.30M | 64.80M | 61.10M | 54.68M | 46.86M | 0.00 |
| Selling & Marketing | 4.82M | 5.19M | 3.95M | 4.40M | 4.12M | 3.84M | 3.90M | 3.69M | 4.23M | 5.01M | 3.89M | 4.14M | 3.95M | 4.05M | 4.29M | 4.11M | 4.94M | 3.82M | 4.28M | 5.97M | 3.77M | 3.00M | 3.62M |
| SG&A | 208.58M | 157.59M | 153.58M | 138.38M | 122.28M | 118.81M | 117.14M | 114.71M | 108.95M | 101.89M | 91.57M | 90.11M | 94.24M | 90.53M | 94.13M | 4.11M | 77.13M | 67.11M | 69.08M | 67.07M | 58.45M | 49.87M | 3.62M |
| Other Expenses | 0.00 | -58.05M | -379.29M | -395.83M | -336.96M | -289.76M | -53.18M | -52.78M | 0.00 | 0.00 | 0.00 | 0.00 | 302.00K | 170.00K | 2.03M | 1.41M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -89.03M | 92.93M |
| Operating Expenses | 208.58M | 5.19M | -225.71M | -257.45M | -214.68M | -156.28M | 3.90M | 3.69M | 4.23M | 5.01M | 3.89M | 4.14M | 3.95M | 4.05M | 4.29M | 4.11M | 4.94M | 3.82M | 4.28M | 5.97M | 3.77M | -39.17M | 96.55M |
| Cost & Expenses | 208.58M | 5.19M | -225.71M | -257.45M | -214.68M | -156.28M | 32.70M | 31.28M | 33.07M | 32.73M | 28.35M | 29.59M | 27.19M | 27.13M | 29.41M | 26.75M | 25.71M | 22.71M | 24.00M | 27.23M | 23.18M | -39.17M | 96.55M |
| Interest Income | 615.82M | 466.18M | 402.34M | 363.31M | 371.47M | 359.83M | 323.85M | 302.32M | 291.78M | 279.36M | 252.78M | 262.26M | 275.72M | 286.53M | 292.56M | 304.32M | 302.58M | 282.14M | 276.46M | 229.54M | 184.51M | 177.38M | 180.98M |
| Interest Expense | 216.37M | 48.63M | 36.32M | 50.74M | 73.50M | 59.15M | 45.64M | 43.75M | 41.90M | 40.47M | 36.77M | 44.92M | 59.73M | 77.57M | 111.54M | 132.25M | 147.70M | 117.61M | 95.01M | 67.19M | 54.63M | 63.24M | 84.52M |
| Depreciation & Amortization | 22.19M | 23.71M | 22.74M | 20.04M | 18.87M | 10.13M | 11.67M | 12.79M | 4.07M | 2.76M | 1.62M | 2.47M | 9.66M | 3.83M | 12.38M | 6.08M | 18.14M | 19.66M | 15.05M | 22.83M | 24.27M | 9.75M | 9.58M |
| EBITDA | 0.00 | 417.96M | 359.78M | 322.71M | 333.53M | 324.92M | 291.15M | 271.04M | 258.71M | 246.63M | 224.43M | -7.56M | 0.00 | 0.00 | 0.00 | 70.48M | 65.00M | 0.00 | 252.46M | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA Ratio | 0.00% | 57.79% | 50.96% | 34.02% | 41.42% | 59.32% | 59.22% | 57.74% | 57.61% | 56.07% | 58.21% | 57.62% | 58.90% | 64.23% | 4.25% | 100.22% | 116.84% | 109.00% | 93.01% | 82.81% | 68.10% | 78.72% | 558.72% |
| Operating Income | 242.80M | 288.74M | 227.12M | 127.55M | 147.09M | 203.07M | 291.15M | 271.04M | 258.71M | 246.63M | 224.43M | 232.67M | 248.53M | 259.40M | 263.15M | 277.57M | 276.87M | 259.43M | 252.46M | 202.32M | 161.32M | 99.05M | 119.69M |
| Operating Income Ratio | 53.79% | 57.14% | 50.16% | 33.13% | 40.66% | 56.51% | 87.20% | 86.33% | 84.80% | 88.06% | 86.26% | 89.16% | 99.88% | 107.78% | 122.68% | 137.22% | 149.28% | 132.04% | 119.84% | 105.64% | 104.96% | 71.66% | 517.32% |
| Total Other Income/Expenses | -67.02M | -48.16M | -46.65M | -44.55M | -37.88M | -36.68M | -35.35M | -35.87M | -37.94M | -37.05M | -30.76M | -7.56M | -1.11M | -1.70M | -254.14M | -2.29M | 4.94M | -1.48M | -26.87M | -133.74M | -135.56M | -62.72M | -84.52M |
| Income Before Tax | 175.78M | 240.11M | 227.12M | 127.55M | 147.09M | 143.92M | 140.48M | 124.78M | 120.16M | 105.42M | 105.90M | 96.12M | 77.19M | 66.27M | -114.82M | 56.58M | 50.87M | 76.89M | 85.90M | 68.58M | 25.77M | 36.33M | 35.16M |
| Income Before Tax Ratio | 38.94% | 47.51% | 50.16% | 33.13% | 40.66% | 40.05% | 42.07% | 39.74% | 39.38% | 37.64% | 40.71% | 36.84% | 31.02% | 27.53% | -53.53% | 27.97% | 27.43% | 39.13% | 40.77% | 35.81% | 16.76% | 26.28% | 151.98% |
| Income Tax Expense | 47.38M | 64.46M | 59.20M | 30.60M | 34.46M | 25.53M | 46.53M | 36.98M | 36.44M | 31.79M | 35.37M | 28.86M | 19.84M | 16.56M | 7.01M | 14.94M | 13.49M | 23.20M | 27.40M | 19.27M | 7.02M | 9.23M | 11.08M |
| Net Income | 128.40M | 175.65M | 167.92M | 96.95M | 112.63M | 118.39M | 93.95M | 87.80M | 83.72M | 73.63M | 70.53M | 67.27M | 57.34M | 49.71M | -121.82M | 41.64M | 37.38M | 53.69M | 58.50M | 49.30M | 18.74M | 26.58M | 24.08M |
| Net Income Ratio | 28.45% | 34.76% | 37.08% | 25.18% | 31.13% | 32.94% | 28.14% | 27.97% | 27.44% | 26.29% | 27.11% | 25.78% | 23.05% | 20.65% | -56.79% | 20.59% | 20.15% | 27.32% | 27.77% | 25.74% | 12.19% | 19.23% | 104.08% |
| EPS | 1.72 | 2.35 | 2.20 | 1.39 | 1.74 | 1.82 | 1.46 | 1.38 | 1.33 | 1.22 | 1.23 | 1.18 | 1.01 | 0.88 | -2.16 | 0.74 | 0.63 | 0.88 | 0.89 | 0.80 | 0.32 | 0.43 | 0.39 |
| EPS Diluted | 1.71 | 2.35 | 2.19 | 1.39 | 1.74 | 1.82 | 1.45 | 1.38 | 1.33 | 1.22 | 1.23 | 1.18 | 1.01 | 0.88 | -2.16 | 0.74 | 0.63 | 0.87 | 0.88 | 0.80 | 0.32 | 0.43 | 0.39 |
| Weighted Avg Shares Out | 74.84M | 74.70M | 76.47M | 69.55M | 64.60M | 64.94M | 64.38M | 63.64M | 62.95M | 60.39M | 57.24M | 57.15M | 56.86M | 56.57M | 56.28M | 56.03M | 59.07M | 60.97M | 66.08M | 61.58M | 57.84M | 61.54M | 61.54M |
| Weighted Avg Shares Out (Dil) | 74.87M | 74.78M | 76.56M | 69.63M | 64.73M | 65.10M | 64.58M | 63.85M | 63.11M | 60.56M | 57.36M | 57.20M | 56.87M | 56.57M | 56.28M | 56.03M | 59.07M | 61.70M | 66.84M | 61.93M | 57.97M | 61.54M | 61.54M |
Earnings Preview: Provident Financial (PFS) Q4 Earnings Expected to Decline
Provident Financial Services, Inc. Schedules Fourth Quarter and Year-End Earnings Conference Call
Provident (PFS) & Lakeland (LBAI) Extend Merger Agreement
Dividend Income Summary: Lanny's November 2023 Summary
Provident Financial Services, Inc. and Lakeland Bancorp, Inc. Extend Merger Agreement
National Survey by Provident Bank Finds Businesses Expect Economy to Improve in 2024 Despite Inflation
UPDATE - Beacon Trust Named One of America's Top RIA Firms by Forbes in Combination with SHOOK Research
Beacon Trust Named One of America's Top RIA Firms by Forbes in Combination with SHOOK Research
Provident Bank Welcomes Chao Huang as Assistant General Counsel, Investor Relations Specialist
Provident Financial Services, Inc. (PFS) Q3 2023 Earnings Call Transcript
Source: https://incomestatements.info
Category: Stock Reports