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Provident Financial Services, Inc. Buyback

OLI recorded this information on 12/24/2012

Company: Provident Financial Services, Inc.
Buyback: PFS buyback
Share Amount Authorized: 3,000,000.00
Buyback Details: Provident Financial Services, Inc. announced that its Board of Directors authorized the Company's eighth stock repurchase program to commence upon completion of the existing stock repurchase authorization. Under the new authorization, the Company may repurchase up to 5% of the amount of shares of common stock currently outstanding, or approximately 3.0 million shares. Repurchases will be made from time to time and will be effectuated through open market purchases, unsolicited negotiated transactions, or such other manner deemed appropriate by management. Completion of the repurchase program will not be limited to a specific time period. The Company's repurchase activities will take into account SEC safe harbor rules and guidance for issuer share repurchases. Approximately 1.1 million shares remain eligible for repurchase under the Company's existing authorization.

Provident Financial Services is a holding company. Through its subsidiary, Provident Bank (the Bank), Co. accepts deposits from the 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 also invests in mortgage-backed securities and other permissible investments. Co.'s deposit products include savings accounts, checking accounts, interest-bearing checking accounts, money market deposit accounts and certificate of deposit accounts.

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Company Name:  Provident Financial Services Inc
Stock buyback:  PFS buyback
Website:  www.provident.bank
Sector:  Banking & Savings
Number of ETFs Holding PFS:  55
Total Market Value Held by ETFs:  $280.29M
Total Market Capitalization:  $1.05B
% of Market Cap. Held by ETFs:  26.62%
 

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March 28, 2024    5:12 PM Eastern
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Buy (2.60 out of 4)
8th percentile
(ranked lower than approx. 92% of all stocks covered)

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