Provident Financial Services Inc (PFS) Stock AnalysisPFSStock AnalysisProvident Financial Services Inc

Provident Financial Services, Inc. is the holding company for Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank operating full-service branch offices throughout New Jersey, Bucks, Lehigh and Northampton counties in Pennsylvania, as well as Orange, Queens and Nassau Counties in New York. The Bank attracts deposits from the general public and businesses primarily in the areas surrounding its banking offices and uses those funds, together with funds generated from operations and borrowings, to originate commercial real estate loans, commercial business loans, residential mortgage loans, and consumer loans. The Bank invests in mortgage-backed securities and other permissible investments. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company, and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc. The Bank has approximately 140 branches. It operates in the Financials sector (SAVINGS INSTITUTION, FEDERALLY CHARTERED industry).

Provident Financial Services Inc (PFS) is a good buy right now due to its strong earnings performance and positive growth outlook. The current price is $23.51, with a forward P/E ratio of 9.89, indicating it is undervalued compared to its earnings potential. Additionally, the company reported a Q2 EPS of $0.60, beating expectations by $0.04, and has a solid revenue growth of 9.5% year-over-year. However, the main risk is the insider selling activity, which has increased by 132.53% over the last month, indicating potential concerns among insiders.

7 analysts cover PFS: 3 rate it Buy, 4 Hold and 0 Sell. The average price target is 22.00.