Phosphorus (P) is the most important macronutrient next to nitrogen for the growth and development of plants. But often unavailable for plants because of its high reactivity with many soil constituents. Thus, the use of phosphate solubilizing bacteria (PSBs) as biofertilizers seems to be an effective way to resolve the soluble phosphorus availability in soil. The present study was conducted to isolate and characterize rock PSB associated with the rhizosphere of wheat (Triticum aestivum L.) from fourteen different wheat-growing sites of Meknes region in Morocco. A total of one hundred ninety-eight (198) rock PSBs were isolated employing NBRIP medium amended with rock phosphate (RP), out of which five strains (A17, A81, B26, B106, and B107) were selected for their strong ability to dissolve RP and were tested in vitro for plant growth-promoting (PGP) traits including production of indole acetic acid (IAA), siderophores, hydrogen cyanide (HCN), and antifungal activity, as well as their response to the effect of extrinsic and intrinsic stress. The 16S rRNA gene sequencing and phylogenetic analysis identified these isolates belong to four genera, Pantoea, Pseudomonas, Serratia, and Enterobacter. The phosphate solubilization index (SI) of selected isolates ranged between 2.3 and 2.7, and the amount of solubilized phosphorus in the liquid medium varied from 59.1 to 90.2 µg mL−1. HPLC analysis revealed that all the selected isolates produced multiple organic acids (oxalic, citric, gluconic succinic, and fumaric acids) from glucose under aerobic conditions. Except for the A81 strain, all selected isolates were able to produce IAA ranging between 2.9 and 21.2 µg mL−1. The isolates A17, B26, and B107 showed the ability to produce siderophores ranging from 79.3 to 20.8% siderophore units. Only two strains (A17 and B26) were able to produce HCN. All selected isolates showed good resistance against different environmental stresses like 10–50 °C temperature, 0.5–2 g L−1 salt concentration and 4.5–9 pH range, and against different antibiotics. The antagonistic effect showed that among the five selected strains, only two strains (B26 and A17) were able to suppress the growth of tested fungi. This study clearly indicates that our selected rock PSBs can be used as biofertilizers for grain crops after studying their interaction with the host crop and field evaluation.