Recap: Provident Financial Services Q1 Earnings

Shares of Provident Finl Services PFS rose 0.1% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 173.91% year over year to $0.63, which beat the estimate of ($0.56).

Revenue of $90,000,000 higher by 24.96% year over year, which missed the estimate of $93,750,000.

Guidance

Provident Finl Services hasn't issued any earnings guidance for the time being.

Provident Finl Services hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Apr 30, 2021

Time: 10:00 AM

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

Technicals

52-week high: $24.20

52-week low: $10.54

Price action over last quarter: Up 33.35%

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.