Comparing the current results to its competitors, Provident Financial Services Inc reported Revenue increase in the 2 quarter 2026 by 3.81 % year on year, while most of its competitors have experienced contraction in revenues by -6.97 %, achieved in the same quarter.
Provident Financial Services Inc Net Income in the 2 quarter 2026 grew year on year by 8.57%, while most of its competitors have experienced a net loss.
Provident Financial Services Inc 's Comment on Competition and Industry Peers
The Bank faces intense competition in originating and retaining loans and
attracting deposits. The northern and central New Jersey and eastern Pennsylvania
market areas have a high concentration of financial institutions, including
large money center and regional banks, community banks, credit unions, investment
brokerage firms and insurance companies. The Bank faces direct competition for
loans from each of these institutions as well as from mortgage companies and
other loan origination firms operating in its market area. The Bank’s
most direct competition for deposits has come from several commercial banks
and savings banks in its market area. Certain of these banks have substantially
greater financial resources than the Bank. In addition, the Bank faces significant
competition for deposits from the mutual fund and investment advisory industries
and from investors’ direct purchases of short-term money market securities
and other corporate and government securities.
The Bank competes in this environment by maintaining a diversified product line,
including mutual funds, annuities and other investment services made available
through its investment subsidiaries. Relationships with customers are built
and maintained through the Bank’s branch network, its deployment of branch
ATMs, and its mobile, telephone and web-based banking services.
Overall company revenue, increased by 3.81 % faster than Provident Financial Services Inc 's competitors within this division and its market share improved to approx. 38.72 %. << More on PFS Market Share.
*Market share is calculated based on total revenue.
News about Provident Financial Services Inc Contracts
March 25, 2024
In the fiercely competitive world of financial services, Provident Financial Services Inc. (NYSE: PFS) has managed to hold its ground and achieve commendable results, despite facing a challenging market environment. This article delves into the recent ratings assigned by credit rating agency KBRA to Provident Financial Services Inc. and its subsidiary, Provident Bank. Additionally, we will analyze how the company compares to its competitors in terms of revenue, profitability, and market share. Ratings Assignment by KBRA:KBRA assigned Provident Financial Services Inc. a senior unsecured debt rating of BBB+, a subordinated debt rating of BBB, and a short-term debt rating of K2. Its main subsidiary, Provident B...
Publicly Traded Peers of Provident Financial Services Inc
Banc Of California Inc Share Performance
+12.35%
One Year
Banc Of California Inc
Profile
Banc of California Inc is a bank holding company that operates through its subsidiary, Banc of California, N.A. The company provides banking products and services, including commercial banking, consumer banking, real estate lending, and institutional banking, primarily to individuals, small and medium-sized businesses, and institutional clients in California.
Unity Bancorp Inc is a community bank that primarily operates in New Jersey, USA. Their business model revolves around providing a range of personal and business banking services to individuals and small businesses in their local communities. They focus on building strong customer relationships, providing personalized banking solutions, and contributing to the growth and development of the local economy.
Parke Bancorp Inc is a financial institution that operates as a bank holding company. Through its subsidiary, Parke Bank, it provides various banking services such as accepting deposits, originating loans, and offering other financial products to individuals and businesses. The company's business model primarily revolves around the traditional banking model of generating revenue through interest income, service fees, and other financial services.
OceanFirst Financial Corp is a financial institution engaged in providing a wide range of banking and financial services to individuals and businesses throughout New Jersey. The company operates through multiple branches and offers various products such as mortgages, loans, savings accounts, and wealth management services. OceanFirst strives to maintain strong relationships with its customers while focusing on delivering convenient and innovative banking solutions.
Sources:
Provident Financial Services Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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