Who Owns Provident Financial Services Company?

Provident Financial Services Bundle

Get Full Bundle:

	PESTLE	$15	$10
	5 FORCES	$15	$10
	BCG	$15	$10
	CANVAS	$15	$10
	4P's MIX	$15	$10
	SWOT	$15	$10

TOTAL:

ADD TO CART

Who owns Provident Financial Services?

Understanding the ownership of Provident Financial Services, Inc. (NYSE: PFS) is key to grasping its strategic direction and market influence. As the holding company for Provident Bank, its history dates back to 1839.

With a market cap around $2.43 billion as of July 2025 and assets totaling $24.22 billion by March 31, 2025, Provident Financial Services is a substantial regional financial institution. Its transition from a mutual savings bank to a public company marks a significant shift in its ownership landscape.

The ownership of Provident Financial Services, Inc. is primarily held by its shareholders, reflecting its status as a publicly traded entity. As of July 2025, institutional investors are significant stakeholders, managing a substantial portion of the company's stock. Key institutional holders include Vanguard Group, Inc., BlackRock, Inc., and Dimensional Fund Advisors LP, collectively owning a considerable percentage of outstanding shares. Individual investors also contribute to the ownership base, holding shares directly or through mutual funds and ETFs. The company's Board of Directors, elected by shareholders, oversees its strategic decisions and governance. For a deeper dive into the company's operational environment, a Provident Financial Services PESTEL Analysis can offer valuable context.

Provident Financial Services, Inc. traces its origins back to February 27, 1839, when its core subsidiary, Provident Bank, was chartered as The Provident Institution for Savings by the State of New Jersey. This marked the establishment of the state's inaugural mutual savings bank, a structure that initially vested ownership in its depositors rather than shareholders, embodying a community-focused mission to foster thrift and provide financial services locally.

Founding Vision The institution was founded with a community-centric vision to promote thrift and offer financial services to local residents. First President John F. Ellis served as the first president of The Provident Institution for Savings from 1839 to 1841. Co-Founder and Successor Dudley S. Gregory, a co-founder, succeeded Ellis as President in 1841 and held the position until his retirement in 1874. Delayed Opening Due to public mistrust following the Panic of 1837, the bank did not accept its first deposit until October 16, 1843. Early Operations Initial operations were conducted from a room in Jersey City's Temperance Hall before relocating to Treasurer Peter Bentley's office in 1846. Mutual Ownership Structure As a mutual institution, ownership was not defined by shareholding percentages for founders, but rather by depositors.

The early structure of The Provident Institution for Savings, as a mutual savings bank, meant that ownership was not distributed through equity splits among founders, unlike contemporary corporate models. Instead, control and governance were vested in a board of trustees. These trustees were responsible for managing the institution with the primary objective of benefiting its depositors and the broader community. This foundational approach prioritized stability, community service, and a conservative growth strategy, characteristic of savings banks during that era.

Founders and Early Governance

The initial ownership structure of Provident Financial Services, Inc. was rooted in the mutual savings bank model, emphasizing community benefit over shareholder profit. This approach shaped its early operations and governance.

• The institution was chartered as The Provident Institution for Savings in 1839.
• It was New Jersey's first mutual savings bank.
• Ownership was vested in depositors, not shareholders.
• Control was managed by a board of trustees for the benefit of depositors and the community.
• This model reflected a commitment to stability and cautious growth, aligning with the Growth Strategy of Provident Financial Services.

Provident Financial Services SWOT Analysis

• Complete SWOT Breakdown
• Fully Customizable
• Editable in Excel & Word
• Professional Formatting
• Investor-Ready Format

GET TEMPLATE ➔

The ownership structure of Provident Financial Services, Inc. saw a significant shift with its conversion from a mutual savings bank to a stock holding company and its subsequent IPO on January 16, 2003. This transition enabled capital raising and operational expansion, issuing 59,618,300 shares of common stock.

As a publicly traded entity on the NYSE under the ticker PFS, Provident Financial Services, Inc.'s ownership is now spread across various investor types. As of May 28, 2025, institutional investors are the dominant holders, accounting for approximately 68% of the company's shares. Key institutional stakeholders include BlackRock, Inc., Vanguard Group Inc, Dimensional Fund Advisors Lp, and State Street Corp. Vanguard, for instance, held 13,404,862 shares, representing 10.26% of institutional holdings. Insider ownership is reported at around 3.08%, with public companies and individual investors collectively holding approximately 38.05% of the total shares. The recent merger with Lakeland Bancorp, Inc., which closed on May 16, 2024, significantly increased the company's assets, loans, and deposits, potentially influencing the overall shareholder distribution.

Provident Financial Services Ownership Breakdown

Understanding the Provident Financial Services ownership structure reveals a strong institutional presence. This distribution impacts corporate governance and strategic decisions.

• Institutional Investors: Approximately 68% (as of May 28, 2025)
• Insider Ownership: Approximately 3.08%
• Public Companies & Individual Investors: Approximately 38.05%
• Major Institutional Holders include BlackRock, Vanguard, Dimensional Fund Advisors, and State Street.

Provident Financial Services PESTLE Analysis

• Covers All 6 PESTLE Categories
• No Research Needed – Save Hours of Work
• Built by Experts, Trusted by Consultants
• Instant Download, Ready to Use
• 100% Editable, Fully Customizable

GET TEMPLATE ➔

The Board of Directors at Provident Financial Services, Inc. is instrumental in guiding the company's strategic path and ensuring accountability to its shareholders. This board comprises a blend of executive leadership and independent directors, reflecting a commitment to robust corporate governance.

The voting power within Provident Financial Services, Inc. is structured around a straightforward one-share-one-vote principle for its common stock. As of February 3, 2025, the company had 130,489,493 shares outstanding. The election of directors is a significant aspect of the annual shareholder meetings, with the 2025 meeting on April 24, 2025, seeing the election of four directors for three-year terms. The proxy statement filed on March 12, 2025, details these nominees and other governance matters. The board's composition has been influenced by recent strategic integrations, incorporating former directors from Lakeland Bancorp, Inc. This suggests a stable governance framework, with no widely reported proxy contests or activist campaigns significantly altering the company's direction.

Understanding Board Responsibilities

The Provident Financial Services board of directors holds significant responsibilities in shaping the company's future. Their oversight ensures alignment with shareholder interests and adherence to regulatory standards.

• Strategic direction and long-term planning
• Executive compensation and performance evaluation
• Risk management and internal controls
• Shareholder rights and engagement

Provident Financial Services Business Model Canvas

• Complete 9-Block Business Model Canvas
• Effortlessly Communicate Your Business Strategy
• Investor-Ready BMC Format
• 100% Editable and Customizable
• Clear and Structured Layout

GET TEMPLATE ➔

Provident Financial Services, Inc. has experienced notable shifts in its ownership structure over the past few years, primarily driven by strategic mergers and ongoing capital management initiatives. These events have influenced the distribution of its shares and the composition of its shareholder base.

Institutional investors represent a significant portion of Provident Financial Services' ownership, reflecting a common trend within the broader banking sector. Additionally, there has been observed insider buying activity, with key executives and directors acquiring shares in June 2025 and March 2025, signaling a potential alignment of management interests with those of other shareholders.

Institutional Investor Influence

Institutions hold a substantial majority of Provident Financial Services' shares. This trend is consistent with the wider banking industry's landscape.

Insider Transactions

Recent insider buying activity, including transactions in June 2025 and March 2025, suggests confidence from key personnel.

Merger Impact

The merger with Lakeland Bancorp, Inc. on May 16, 2024, has reshaped the company's market presence and could lead to further consolidation among shareholders.

Capital Management Strategies

The company's continued stock repurchase programs, with approximately 3.1 million shares eligible as of December 31, 2024, demonstrate a focus on managing shareholder value. For a look at the company's past, see the Brief History of Provident Financial Services.

Provident Financial Services Porter's Five Forces Analysis

• Covers All 5 Competitive Forces in Detail
• Structured for Consultants, Students, and Founders
• 100% Editable in Microsoft Word & Excel
• Instant Digital Download – Use Immediately
• Compatible with Mac & PC – Fully Unlocked

GET TEMPLATE ➔