Provident Financial Services (PFS)
NYSE:PFS
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Earnings Data
Report Date
Jul 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.56Last Year’s EPS
0.55Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive financial performance with strong earnings growth, record noninterest income, robust commercial loan production and an expanding loan pipeline, along with capital build and share repurchases. Key challenges include a rise in nonperforming loans tied to one bankruptcy-affected commercial relationship, modest deposit outflows and near-term expense pressure from compensation and a core systems upgrade. Management expects credit resolution without material loss, reaffirmed guidance and highlighted strategic investments to support future growth and efficiency.Company Guidance
Solid Profitability and EPS Growth
Net earnings of $79 million, or $0.61 per share, representing a 24% increase in net income versus 2025. Annualized return on average assets was 1.29% and adjusted return on average tangible common equity was 16.6%.
Strong Pretax Pre-Provision Performance
Pretax, pre-provision net revenue of $108 million, up 13.5% year-over-year, representing 1.75% of average assets versus 1.61% in the prior-year quarter.
Robust Commercial Loan Production and Pipeline
New commercial loan production of $649 million in the quarter, up 8% year-over-year; commercial loan portfolio growth of $161 million (3.9% annualized). Commercial & industrial loans grew at a 10% annualized rate. Record commercial pipeline of $3.1 billion (CRE $1.3B, C&I $1.1B, specialty $400M, middle market $200M).
Revenue Momentum and Noninterest Income Record
Total revenue exceeded $225 million for the second consecutive quarter, driven by net interest income of $194 million and record noninterest income of $31.5 million. Insurance platform (Provident Protection Plus) delivered strong results with ~95% customer retention and meaningful YoY growth in new business and contingency income.
Asset and Yield Dynamics
Average earning assets increased $264 million (annualized 4.7%). Yield on assets decreased 13 basis points to 5.53%, largely offset by a 12 basis point decline in cost of interest-bearing liabilities to 2.71%. Interest-bearing deposit costs fell 21 basis points to 2.39%; total deposit costs declined 16 basis points to 1.94%.
Credit Performance and Low Net Charge-Offs
Net charge-offs were $3.1 million, or an annualized 6 basis points of average loans, indicating limited loss experience outside specific credits.
Capital Build and Share Repurchases
Tangible book value per share increased $0.33 (2.1%) to $16.03. Tangible common equity ratio rose to 8.55%. Opportunistic share repurchases of $12.4 million (589k shares) were executed; 2.2 million shares remain on the authorization.
Affirmed 2026 Guidance
Reaffirmed full-year 2026 guidance: 4%–6% loan and deposit growth, noninterest income averaging $28.5 million per quarter, core ROA targeted at 1.2%–1.3%, and mid-teens return on average tangible common equity.
Operational Investments and Efficiency
Efficiency ratio improved to 52% and expenses to average assets improved to 1.95% year-over-year. Company plans core system upgrade (FIS) to improve lending data flows, onboarding speed, API integrations and support future efficiency gains.
PFS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PFS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2026 | $22.42 | $22.68 | +1.16% |
Jan 28, 2026 | $21.99 | $21.99 | 0.00% |
Oct 30, 2025 | $18.06 | $17.87 | -1.08% |
Jul 24, 2025 | $17.63 | $17.70 | +0.44% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Provident Financial Services (PFS) report earnings?
Provident Financial Services (PFS) is schdueled to report earning on Jul 23, 2026, Before Open (Confirmed).
What is Provident Financial Services (PFS) earnings time?
Provident Financial Services (PFS) earnings time is at Jul 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PFS EPS forecast?
PFS EPS forecast for the fiscal quarter 2026 (Q2) is 0.56.