Provident Financial Services, Inc Common Stock (PFS)

Competitors to Provident Financial Services, Inc Common Stock (PFS)

Cullen/Frost Bankers, Inc. 

Cullen/Frost Bankers competes with Provident Financial Services by emphasizing its strong customer service and community involvement, which resonates with similar client demographics. While both banks focus on personal banking and wealth management, Cullen/Frost Bankers has a well-established reputation and a larger footprint in Texas, allowing them to capture market segments more effectively in their region. Their robust online tools and customer relationship management systems also provide a technological competitive advantage over Provident, making it easier for clients to manage their banking needs.

First Financial Corporation 

First Financial Corporation competes with Provident Financial Services by offering similar banking and financial services primarily in the Midwest region. Both institutions focus on providing personal banking, business banking, and wealth management services. However, First Financial has a longer history and a stronger community banking approach which can give it an edge in customer loyalty. Their local engagement and strong brand recognition can be seen as a competitive advantage over the more regionally concentrated services of Provident.

Horizon Bank 

Horizon Bank competes with Provident Financial Services primarily by targeting similar demographics in the financial products space, from loans and mortgages to investment services. Horizon has a reputation for strong customer relationships and personalized banking solutions that appeal to local markets. Their competitive advantage lies in their ability to adapt offerings to meet the diverse needs of local communities more effectively than Provident, giving them a loyal customer base within their operational regions.

Valley National Bancorp 

Valley National Bancorp and Provident Financial Services primarily compete in the regional banking sector, targeting similar customer bases such as consumers and small to medium-sized businesses. Both companies offer a range of financial products including loans, mortgages, and investment services. Valley has been known to expand aggressively through acquisitions, potentially providing it with a broader customer base and more resources compared to Provident. This competitive strategy allows Valley to leverage economies of scale, giving them a slight competitive edge in terms of market presence and branch accessibility.

Western Alliance Bancorporation 

Western Alliance Bancorporation and Provident Financial Services compete in the same regional banking sector, with Western Alliance focusing heavily on commercial banking and specialized financial services. Western Alliance excels in underwriting loans and has developed strong niche markets in various industries that provide them with higher yields compared to standard banking products offered by Provident. Their diversified approach to lending and robust regional presence, particularly in the Western U.S., positions them ahead of Provident in terms of growth potential and profit margins.