Louisiana State Employees Retirement System Sells Shares of Provident Financial Services,

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The Louisiana State Employees Retirement System (LASERS) has recently sold shares of Provident Financial Services ($NYSE:PFS), Inc. (PFS) to Defense World, a trading company in the Middle East. PFS is one of the leading financial services companies in North America. The company provides a range of banking products and services to its clients, including savings accounts, loans, mortgages, and credit cards.

In addition, the company offers a variety of investment products, such as mutual funds, annuities, and retirement plans. It also provides insurance and trust services. PFS has experienced strong growth in recent years, due to the improving economy and increased consumer confidence in the banking industry.

Additionally, PFS has been actively seeking new partnerships and acquisitions to expand its services and market reach. With the sale of its shares to Defense World, PFS is now well-positioned to capitalize on the growing demand for financial services across the globe.

Market Price

On Tuesday, PROVIDENT stock opened at $16.6 and closed at $16.5, up by 0.1% from its previous closing price of 16.5. This news has impacted the trading of PROVIDENT stock, as traders weigh in on the sale of shares. With this latest development, it remains to be seen how the stock will continue to move in the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for PFS. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for PFS. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for PFS. More…

Key Ratios Snapshot

Some of the financial key ratios for PFS are shown below. More…

Analysis

At GoodWhale, we have been analyzing PROVIDENT FINANCIAL SERVICES’s financials and have concluded that it is classified as a ‘gorilla’, a type of company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. This type of company is likely to be attractive to investors who are looking for growth, strong asset health, and attractive dividends. PROVIDENT FINANCIAL SERVICES is particularly strong in the growth category, with excellent performance in the areas of revenue and earnings growth, and strong performance in dividend growth. Furthermore, it has a high health score of 7/10 with regard to its cashflows and debt, indicating that the company is capable of paying off debt and funding future operations. More…

Peers

In the current market, Provident Financial Services Inc is facing stiff competition from Peoples Bancorp of North Carolina Inc, NBT Bancorp Inc, and Blackhawk Bancorp Inc. All of these companies are vying for a share of the market, and each has its own strengths and weaknesses. Provident Financial Services Inc has a strong history and reputation, but it is up against two newer companies that have been able to grow rapidly. NBT Bancorp Inc has a large customer base, but Blackhawk Bancorp Inc has a more diversified product offering.

– Peoples Bancorp of North Carolina Inc ($NASDAQ:PEBK)

Peoples Bancorp of North Carolina, Inc. operates as the holding company for Peoples Bank that provides banking products and services to individuals and small to medium-sized businesses in the United States. It operates through two segments, Community Banking and Mortgage Banking. The Community Banking segment offers various banking products and services, including demand deposit accounts, time deposit accounts, NOW accounts, money market deposit accounts, certificates of deposit, consumer and commercial loans, and leasing services. This segment also provides automated teller machines, drive-in banking, Internet banking, and mobile banking services. The Mortgage Banking segment originates one-to-four family residential real estate loans, construction loans, and land loans. As of December 31, 2020, the company operated 36 full-service banking offices in 24 communities in central and western North Carolina; and one loan production office in Hickory, North Carolina. Peoples Bancorp of North Carolina, Inc. was founded in 1902 and is headquartered in Mount Airy, North Carolina.

– NBT Bancorp Inc ($NASDAQ:NBTB)

NBT Bancorp Inc. is a bank holding company that operates through its subsidiary, NBT Bank, N.A. They provide commercial banking, retail banking, and wealth management services to their customers. Their market cap as of 2022 is $2B.

– Blackhawk Bancorp Inc ($OTCPK:BHWB)

Blackhawk Bancorp Inc is a financial holding company that operates through its subsidiaries. It offers a range of banking services to businesses and individuals in the United States. The company’s market cap as of 2022 was $85.4 million. The company’s primary subsidiary is Blackhawk Bank, which provides a full range of banking services, including commercial and consumer lending, deposit gathering, and other services. Blackhawk Bancorp Inc also owns and operates Blackhawk Insurance Agency, Inc., a full-service insurance agency that offers a range of insurance products, including property and casualty, life, and health insurance.

Summary

Provident Financial Services, Inc. (PROV) is a financial services company that focuses on banking and related services. Recently, the Louisiana State Employees Retirement System (LASERS) sold a portion of their PROV shares, which caused some investors to take a closer look at the stock. Overall, analysts see Provident Financial Services, Inc. as an attractive investment, due to its solid financials, healthy balance sheet and positive returns.