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Stock impact report

Stonegate Capital Partners Initiates Coverage on Provident Financial Services Inc (PFS) [Yahoo! Finance]

Provident Financial Services, Inc (PFS) 
Last provident financial services, inc earnings: 4/30 08:00 am Check Earnings Report
US:NYSE Investor Relations: providentfinancial.com/investors
Company Research Source: Yahoo! Finance
Capital Partners initiates their coverage on Provident Financial Services Inc (NYSE: PFS). For 2Q25, Provident Financial Services reported net income of $72.0M, up from $64.0M in 1Q25. This equates to basic and diluted EPS of $0.55, compared to $0.49 in 1Q25 and a net loss of $11.5M in 2Q24. The sequential increase was driven by higher net interest income from new loan originations at favorable market rates and improved repricing on adjustable-rate loans, combined with lower non-interest expenses. This was partly offset by higher compensation expenses and lower average low-cost deposits. Management highlighted that this quarter delivered record revenue of $214.2M, supported by both volume growth and margin expansion, while maintaining strong credit quality. To view the full announcement, including downloadable images, bios, and more, click here Key Takeaways: PFS delivered record revenue of $214.2M, supported by net interest income of $187.1M and non-interest income of $27.1M. Show less Read more
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