Recap: Provident Financial Services Q2 Earnings

Shares of Provident Finl Services PFS decreased 0.8% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 163.64% year over year to $0.58, which beat the estimate of $0.45.

Revenue of $90,905,000 up by 30.18% from the same period last year, which beat the estimate of $90,280,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

How To Listen To The Conference Call

Date: Jul 30, 2021

Time: 10:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/pfs/mediaframe/44289/indexr.html

Price Action

Company's 52-week high was at $25.70

52-week low: $11.76

Price action over last quarter: down 11.16%

Company Overview

Provident Financial Services Inc is the holding company for The Provident Bank, a community-oriented bank. The company provides a comprehensive array of financial products and services through its network of branches throughout northern and central New Jersey, and certain counties in Pennsylvania. The company's strategy emphasizes growing high-return businesses in nonstandard markets, and maintaining a secured capital structure. Commercial loans represent a plurality of the company's loans, followed by construction loans. Net interest income is the largest portion of the company's net revenue.