At a glance
Provident Financial Services Inc is worth $3.02B, about 10 times its fiscal 2025 earnings. Revenue grew 25.3% to $870.4M in fiscal 2025, with 33.5% kept as profit; over 5 years it has grown 17.7% a year. It pays a 4.15% dividend yield, and returned $510.1M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +27.8% over the past year with dividends reinvested and +3.5% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 57.6% in the 2020 crash (S&P 500: 33.7%) and 24.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 12 months and 40 months after the lows.
The business in plain English
Provident Financial Services is the parent company of Provident Bank, a New Jersey savings bank founded in 1839 and headquartered in Jersey City. As of December 31, 2025, the bank ran 141 full-service branches across fourteen New Jersey counties, three Pennsylvania counties (Bucks, Lehigh and Northampton) and three New York counties (Orange, Queens and Nassau). Its May 2024 merger with Lakeland Bancorp added 68 branches, $7.91 billion of loans and $8.62 billion of deposits.
The bank takes deposits from local households and businesses and lends them out. Most of the lending goes to commercial real estate and businesses, with home mortgages and consumer loans making up the rest. The gap between the interest it earns and the interest it pays is called net interest income. In fiscal 2025 it was $760.6 million of the company's $870.4 million in revenue. Core deposits, meaning everyday checking and savings accounts, made up 82.9% of deposits at year-end.
The other $109.8 million came from non-interest income. That included $42.8 million of fees, $29.3 million from wealth management at its Beacon Trust Company subsidiary and $18.3 million from insurance brokerage at Provident Protection Plus. New Jersey is its core market. As of June 30, 2025, the bank held 4.70% of bank deposits in its New Jersey market area, against 0.71% in Pennsylvania and 0.28% in New York.
Price history
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PFS +27.8% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $234.7M, up 9.6% from a year earlier, and net income was $78.1M (+8.6%).
- For fiscal 2025, revenue was $870.4M (+25.3% year over year; +17.7% a year from FY2020 to FY2025) with a 33.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +17.7% good |
|---|---|
| Return on equity | 10.3% watch |
| Net income / revenue | 33.5% good |
| Deposits | $19.55B |
| Loans | $19.87B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $385.0M | $97.0M | — |
| FY2021 | $452.8M | $167.9M | — |
| FY2022 | $505.3M | $175.6M | — |
| FY2023 | $479.3M | $128.4M | — |
| FY2024 | $694.7M | $115.5M | — |
| FY2025 | $870.4M | $291.2M | — |
Valuation snapshot
| Market value | $3.02B |
|---|---|
| P/E ratio | 10.4 |
| Dividend yield | 4.15% |
Rank among 1514 US companies
Market value at each year end
Provident Financial Services’s market value went from $1.88B at the end of 2016 to $3.02B on Oct 28, 2026, up 61%; since the end of 2025 it is up 17%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $3.02B | +16.9% |
| 2025 | $2.58B | +4.8% |
| 2024 | $2.46B | +80.6% |
| 2023 | $1.36B | -15.2% |
| 2022 | $1.61B | -14.2% |
| 2021 | $1.87B | +32.8% |
| 2020 | $1.41B | -13.2% |
| 2019 | $1.63B | +0.5% |
| 2018 | $1.62B | -10.1% |
| 2017 | $1.80B | -4.1% |
| 2016 | $1.88B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| PFS price data to Oct 28, 2026 | +20.8% | +27.8% | +24.3% | +3.5% | +5.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +20.8% |
| 2025 | +10.3% |
| 2024 | +10.7% |
| 2023 | -10.7% |
| 2022 | -8.1% |
| 2021 | +40.4% |
| 2020 | -22.5% |
| 2019 | +6.8% |
| 2018 | -7.6% |
| 2017 | -1.2% |
| 2016 | +45.4% |
| 2015 | +15.4% |
| 2014 | -3.2% |
| 2013 | +33.9% |
| 2012 | +17.0% |
| 2011 | -8.3% |
| 2010 | +47.4% |
| 2009 | -27.4% |
| 2008 | +9.4% |
| 2007 | -18.4% |
| 2006 | +0.1% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 52.6% over that stretch · deepest drop along the way 58.7%, back to its old high 51.9 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 52.4% over that stretch · deepest drop along the way 57.6%, back to its old high 11.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 17.6% over that stretch · deepest drop along the way 24.7%, back to its old high 39.7 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 6 sales ($2.0M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 1, 2026 | Thomas Shara Director | sell | $929K |
| Aug 18, 2026 | Vito Giannola EVP & CRBO of provident Bank | sell | $487K |
| Aug 31, 2026 | Thomas Shara Director | sell | $370K |
| Jun 12, 2026 | George Lista Pres/CEO Prov Protection Plus | sell | $83K |
| Sep 14, 2026 | James A. Christy EVP, CRO of Provident Bank | sell | $70K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 13.2% | Mar 31, 2025 |
| Vanguard Portfolio Management | 6.24% | Mar 31, 2026 |
| Vanguard Capital Management | 5.03% | Mar 31, 2026 |
| Wellington Management Group LLP | 4.4% | Mar 31, 2026 |
ETFs with the most weight in PFS
| JPSV JPMorgan Active Small Cap Value ETF | 1.39% |
| SVAL iShares US Small Cap Value Factor ETF | 0.87% |
| KBE SPDR S&P Bank ETF | 0.74% |
| XSVM Invesco S&P SmallCap Value with Momentum ETF | 0.7% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.64% |
| BSVO EA Bridgeway Omni Small-Cap Value ETF | 0.4% |
| KRE SPDR S&P Regional Banking ETF | 0.37% |
| VIOV Vanguard S&P Small-Cap 600 Value ETF | 0.36% |
What could go wrong
- Merger conditions limit capital and lending flexibility. For three years after the Lakeland merger, regulators require the bank to hold capital ratios above set minimums and keep commercial real estate lending within forecast limits. Breaches could bring penalties or cease-and-desist orders.
- Inherited Justice Department fair-lending settlement. The bank took on Lakeland Bank's 2022 court-approved settlement with the Department of Justice over fair-lending claims. It includes a $12 million loan subsidy fund over five years. Compliance takes money and management attention.
- Heavy reliance on commercial real estate loans. The bank emphasizes commercial real estate, multi-family, business and construction loans. They pay higher rates than home mortgages but carry a higher risk of loss and attract extra regulatory scrutiny.
- Tied to the New Jersey-area economy. Loans and deposits are concentrated in New Jersey, eastern Pennsylvania and nearby New York. New Jersey's preliminary unemployment rate rose to 5.4% as of December 31, 2025, from 4.6% a year earlier.
- Costly core banking system conversion. The company expects significant costs from its pending core system conversion. That means switching the main software that runs customer accounts. It follows costly integration work from the Lakeland merger.
- Interest rate swings squeeze lending margins. Net interest income drives most revenue. The bank's lending margin narrows if deposit and borrowing costs rise faster than what loans earn, or if short-term rates stay above long-term rates.
Recent events
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Other company announcement
- Executive or board change
For income and retirement investors
Provident pays a steady dividend but raised it only once between fiscal 2020 and fiscal 2025, from $0.92 to $0.96 per share in fiscal 2022. In fiscal 2025 the dividend took 43.2% of earnings. In fiscal 2024, the Lakeland merger year, diluted earnings of $1.05 per share barely covered it. The yield was 4.15% as of October 28, 2026. Buybacks totaled $67.2 million over fiscal 2021 to 2025, all in fiscal 2021 and 2022. Meanwhile the share count rose 68.6% from November 2021 to August 2026, largely from shares issued for Lakeland.
The shares have fallen hard in downturns. They lost 58.7% in the 2008 financial crisis and took about 52 months to recover. They dropped 57.6% in the 2020 COVID crash and recovered in about 12 months. In the 2022 bear market they fell 24.7% and did not regain their prior high until January 2026. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Provident Financial Services make money?
Mostly from lending. Provident Bank takes deposits in New Jersey, eastern Pennsylvania and parts of New York, then lends the money out. Most loans go to commercial real estate and businesses, plus home mortgages. Net interest income, the gap between the interest it earns and the interest it pays, was $760.6 million in fiscal 2025. Another $109.8 million came from fees, wealth management through Beacon Trust Company and insurance brokerage through Provident Protection Plus.
Does Provident Financial Services raise its dividend every year?
No. The regular dividend was $0.92 per share in fiscal 2020 and 2021. It rose to $0.96 in fiscal 2022 and stayed there through fiscal 2025. That works out to average growth of about 0.9% a year over five years. In fiscal 2025 the company paid $125.9 million in dividends, equal to 43.2% of net income. The dividend yield was 4.15% as of October 28, 2026.
What did Provident's merger with Lakeland Bancorp change?
It made Provident much larger. The deal closed on May 16, 2024, and added $10.59 billion in assets, $7.91 billion in loans, $8.62 billion in deposits and 68 branches in New Jersey and New York. Lakeland shareholders received 0.8319 Provident shares for each share, worth $876.8 million in total. The deal came with conditions. For three years the bank must keep capital above set minimums, and it took on Lakeland Bank's fair-lending settlement with the Department of Justice.
Is Provident Bank well capitalized?
Yes, by regulators' standards. As of December 31, 2025, both the company and Provident Bank met the regulatory test for being well capitalized. Non-performing assets are loans that have stopped paying as agreed, plus foreclosed property. They were $80.4 million, or 0.32% of total assets, down from 0.34% a year earlier. Core deposits made up 82.9% of all deposits. A key credit risk is the bank's focus on commercial real estate lending, which carries a higher risk of loss than home mortgages.
How has Provident Financial Services stock performed?
Unevenly. Based on share price as of October 28, 2026, PFS gained 27.8% over one year and 24.3% a year over three years. Over longer periods it gained only 3.5% a year over five years and 5.2% a year over ten years. The stock has suffered deep drops, including 58.7% in the 2008 financial crisis and 57.6% in the 2020 COVID crash. Its deepest decline in about 21 years of price history was 64.1%.