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The latest update is out from Provident Financial Services ( (PFS) ).
The company reported its fourth quarter 2024 financial results, highlighting a slight decrease in net interest margin and improvements in asset quality as non-performing loans decreased. Additionally, Provident Financial Services announced a reclassification of $151.3 million in its commercial loan portfolio for sale, exiting the non-relationship equipment lease financing business, and increased total deposits by $247.6 million. The company also noted a pending merger with Lakeland, with potential impacts on business and customer relationships.
More about Provident Financial Services
Provident Financial Services, Inc. operates in the financial services industry, providing banking products and services through its 140 branches across New Jersey, eastern Pennsylvania, and New York. The company has a diverse portfolio including wealth management and insurance services, with Beacon Trust Company managing $4.2 billion in assets under management and Provident Protection Plus, Inc. generating $16.2 million in revenue in 2024.
YTD Price Performance: 2.96%
Average Trading Volume: 583,742
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $2.47B
For an in-depth examination of PFS stock, go to TipRanks’ Stock Analysis page.
