Provident Financial Services Ends 2023 at $19.53, Up 3.06% on Positive Sentiment
March 30, 2023
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Sentiment is telling a different story about Provident Financial Services ($NYSE:PFS) Inc., as the company ended 2023 with a price of $19.53, representing a 3.06% increase from its closing price of $18.95. The positive sentiment is likely driven by the company’s increasing presence in the financial services sector. Provident Financial Services Inc. has been expanding its offerings in both traditional and digital banking, as well as launching new products and services to meet the changing needs of consumers. The company has also been proactive in responding to the changing regulatory landscape, ensuring that its operations are in compliance with all applicable laws and regulations.
The steady increase in Provident Financial Services Inc.’s stock price over the course of 2023 is likely a result of growing investor confidence in the company’s ability to deliver strong returns to its shareholders. This positive sentiment is likely to remain strong going forward, as the company continues to expand its product offering and develop innovative solutions for its customers. With the strong fundamentals and a steady flow of positive news, it appears that Provident Financial Services Inc. is poised for continued success in the years ahead.
Market Price
This performance is encouraging for investors and suggests that the company is well-positioned to capitalize on its potential for growth throughout the coming year. Overall, PROVIDENT’s strong financial performance and positive investor sentiment are signs of a prosperous year ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for PFS. More…
| Total Revenues | Net Income | Net Margin |
| – | 175.65 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for PFS. More…
| Operations | Investing | Financing |
| 200.31 | -647.56 | -78.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for PFS. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 13.78k | 12.19k | – |
Key Ratios Snapshot
Some of the financial key ratios for PFS are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.8% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
GoodWhale has conducted a financial analysis of PROVIDENT FINANCIAL SERVICES. Upon examining the company’s performance using our Star Chart, we classify it as a ‘cheetah’, which indicates that it has achieved high revenue or earnings growth but may be less stable due to lower profitability. Given this classification, we believe that short-term investors and those interested in growth stocks would be most interested in investing in PROVIDENT FINANCIAL SERVICES. The company is strong in growth, asset, dividend, and medium in profitability. Additionally, our Health Score indicates that the company has a score of 7/10, indicating that it is capable of safely riding out any crisis without the risk of bankruptcy. 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. (PFS) ended 2023 at $19.53, up 3.06% from the previous close, driven by positive sentiment among investors. In terms of investing analysis, PFS is a diversified financial services company based primarily in the eastern United States. Its primary focus is commercial banking, consumer banking, and lending. Its loan portfolio includes residential mortgages, commercial mortgages, construction loans, consumer loans, and other commercial loans. The company’s profitability is supported by its strong balance sheet and capital position, low credit quality risk profile, and diversified portfolio.
Additionally, PFS has a well-established and experienced management team with a track record of success in managing the company’s assets and managing its risk profile. The company’s dividend yield is also attractive and provides a steady income stream for investors. Overall, PFS is a good stock to consider for long-term investors looking for solid returns with limited risk.
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