Provident Financial Services, Inc. Announces Authorization of New Stock Repurchase Program

Rhea-AI Summary

Provident Financial Services (NYSE: PFS) announced on Jan 26, 2026 that its Board authorized a tenth stock repurchase program to begin after the company completes its existing program, which has 814,247 shares remaining. Together, the remaining and new authorization allow repurchase of up to 2.15% of outstanding shares (~2.81 million shares). The program has no expiration date and permits open market purchases, negotiated transactions, block trades, or Rule 10b5-1 plans. Repurchase timing and amount will depend on market conditions, capital levels, and regulatory considerations.

Key Figures

Existing program capacity: 814,247 shares Total authorization: 2.15% of shares Total shares authorized: 2.81 million shares +1 more

4 metrics

Existing program capacity 814,247 shares Remaining shares under current stock repurchase program

Total authorization 2.15% of shares Maximum repurchase as % of currently outstanding common stock

Total shares authorized 2.81 million shares Approximate total shares that may be repurchased across programs

Bank founded 1839 Year Provident Bank began offering services

Market Reality Check

Price: $20.59 Vol: Volume 620,958 is 0.79x t...

normal vol

$20.59 Last Close

Volume Volume 620,958 is 0.79x the 20-day average of 790,014, indicating subdued trading ahead of the announcement. normal

Technical Shares trade at $20.59, above the 200-day MA $18.57 and about 5.16% below the 52-week high of $21.71.

Peers on Argus

Key regional bank peers such as PRK, BOH, BANC, WAFD, and WSBC show positive pri...

Key regional bank peers such as PRK, BOH, BANC, WAFD, and WSBC show positive price changes today, but PFS shows a 0% 24h move, suggesting this buyback authorization was set against a generally firm sector backdrop rather than an obvious sector-wide price swing in the stock itself.

Common Catalyst Several peers reported earnings and dividend-related updates today, consistent with broader capital return and results season activity in regional banks.

Historical Context

5 past events · Latest: Jan 13 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 13	CFO retirement	Neutral	+0.6%	CFO retirement announcement with planned transition and search for successor.
Jan 13	Community grants	Neutral	-0.1%	Employee-driven fundraising and $80,000 in grants to local nonprofits.
Jan 06	Economic survey	Neutral	+0.1%	Release of 2026 outlook survey showing stronger investment and hiring plans.
Jan 05	Earnings call setup	Neutral	+2.0%	Scheduling of Q4 and year-end 2025 earnings release and conference call.
Dec 17	Leadership changes	Positive	+0.4%	Executive hires and promotions focused on technology, data, and CRE growth.

Pattern Detected

Recent corporate and investor-relations updates have generally coincided with modestly positive price reactions, with only one small divergence.

Recent Company History

Over the past few months, PFS has reported a series of corporate updates and community initiatives. A CFO retirement announcement on Jan 13, 2026 saw a modest 0.61% gain. Community giving news the same day coincided with a slight -0.10% move. An economic outlook survey on Jan 6, 2026 and an earnings call scheduling on Jan 5, 2026 produced small gains of 0.10% and 2.03%, respectively. Executive hires on Dec 17, 2025 also aligned with a 0.43% increase. Today’s buyback news fits into this pattern of incremental, shareholder-focused communications.

Market Pulse Summary

This announcement introduces additional capital return flexibility, allowing PFS to repurchase up to...

Analysis

This announcement introduces additional capital return flexibility, allowing PFS to repurchase up to 2.15% of its outstanding common stock, or about 2.81 million shares, across existing and new programs. The board and management emphasize confidence in earnings projections and balance sheet strength. Set against recent positive earnings trends and upcoming year-end results, investors may watch how actively the authorization is used and how it interacts with broader capital and regulatory considerations.

Key Terms

stock repurchase program, rule 10b5‑1, safe harbor rules, forward-looking statements, +1 more

5 terms

stock repurchase program financial

"authorized the Company’s tenth stock repurchase program, which will begin upon"

A stock repurchase program is when a company buys back its own shares from the market. This can make each remaining share more valuable and shows that the company believes its stock is a good investment. It’s like a business treating its shares like a limited resource, hoping to boost confidence and share prices.

rule 10b5‑1 regulatory

"or pursuant to any trading plan adopted in accordance with Rule 10b5‑1 of the Securities"

A Securities and Exchange Commission rule that lets company insiders establish a written, prearranged plan to buy or sell company stock so those trades won’t be treated as illegal insider trading later, provided the plan was set up when they did not possess important secret information and they cannot later change or influence the trades. It matters to investors because such plans make insider activity more predictable and reduce suspicion of opportunistic trades—like setting up an automatic payment schedule that runs on its own even if circumstances change.

safe harbor rules regulatory

"All activity will be conducted in accordance with applicable SEC safe harbor rules and guidance."

Safe harbor rules are legal protections that shield companies or individuals from liability when they follow specified procedures or make certain types of statements in good faith. For investors, they matter because they encourage open communication and predictable behavior—like a marked bike lane that lets riders move confidently knowing they met the safety rules—while limiting the risk of lawsuits or penalties when the conditions of the safe harbor are satisfied.

forward-looking statements regulatory

"Forward‑Looking Statements Certain statements contained herein are “forward-looking statements” within"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

form 10-k regulatory

"those set forth in Item 1A of the Company's Annual Report on Form 10-K, as"

A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

AI-generated analysis. Not financial advice.

ISELIN, N.J., Jan. 26, 2026 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (the “Company”) today announced that its Board of Directors has authorized the Company’s tenth stock repurchase program, which will begin upon the completion of the existing stock repurchase program, which has 814,247 shares remaining available for repurchase.

Under the new authorization, together with the remaining shares available under the existing authorization, the Company may repurchase up to 2.15% of its currently outstanding shares of common stock, or approximately 2.81 million shares. Repurchases may be made from time to time through open market purchases, unsolicited negotiated transactions, block trades, or pursuant to any trading plan adopted in accordance with Rule 10b5‑1 of the Securities and Exchange Commission.

The repurchase program has no expiration date, and its completion is not subject to a specific timeframe. The timing and amount of any repurchases will be determined based on market conditions, capital levels, regulatory considerations, and other factors that the Company deems appropriate. All activity will be conducted in accordance with applicable SEC safe harbor rules and guidance.

“We are confident in our earnings projections and are proud of our balance sheet strength and achievements,” said Anthony J. Labozzetta, President and Chief Executive Officer of Provident Financial Services, Inc. “The Board’s authorization of the repurchase program is a reflection of our sound risk management and capacity to efficiently return capital and add value to our shareholders.”

“Our balance sheet and capital management strategy has enabled us to anticipate completing our existing stock repurchase program. Therefore, we are introducing additional capital return flexibility through this new authorization,” said Thomas M. Lyons, Senior Executive Vice President and Chief Financial Officer. “We expect strong capital formation and will continue to assess repurchases within the context of prevailing market conditions and our long‑term financial objectives.”

About Provident Financial Services, Inc.

Provident Financial Services, Inc. is the holding company for Provident Bank, a community-oriented bank offering "Commitment you can count on" since 1839. Provident Bank (the “Bank”) provides a comprehensive array of financial products and services through its network of branches throughout New Jersey, Bucks, Lehigh and Northampton counties in Pennsylvania, as well as Orange, Queens and Nassau Counties in New York. The Bank also provides fiduciary and wealth management services through its wholly owned subsidiary, Beacon Trust Company and insurance services through its wholly owned subsidiary, Provident Protection Plus, Inc.

Forward‑Looking Statements

Certain statements contained herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “may,” “will,” “believe,” “expect,” “estimate,” "project," "intend," “anticipate,” “continue,” or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those set forth in Item 1A of the Company's Annual Report on Form 10-K, as supplemented by its Quarterly Reports on Form 10-Q, and those related to the economic environment, particularly in the market areas in which the Company operates, inflation and unemployment, competitive products and pricing, real estate values, fiscal and monetary policies of the U.S. Government, tariffs, changes in accounting policies and practices that may be adopted by the regulatory agencies and the accounting standards setters, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, potential goodwill impairment, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets, and the availability of and costs associated with sources of liquidity.

The Company cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date they are made. The Company advises readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not assume any duty, and does not undertake, to update any forward-looking statements to reflect events or circumstances after the date of this statement.

Media Contact:

Keith Buscio
keith.buscio@provident.bank

FAQ

What did Provident Financial Services (PFS) announce on January 26, 2026?

PFS announced a new, tenth stock repurchase program that will begin after the completion of its current program and, combined, may repurchase up to 2.15% of outstanding shares (~2.81M).

How many shares remain under Provident's existing repurchase program?

The existing program has 814,247 shares remaining available for repurchase.

When will the new PFS repurchase program start and does it expire?

The new program will begin upon completion of the existing program and has no expiration date.

What methods will PFS use to repurchase shares under the new program?

Repurchases may occur via open market purchases, unsolicited negotiated transactions, block trades, or under Rule 10b5-1 trading plans.

How will Provident decide timing and size of repurchases under the program?

Repurchases will be determined based on market conditions, capital levels, regulatory considerations, and other factors the company deems appropriate.