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Provident Financial Services (PFS)
:PFS
RESEARCH TOOLSreports
Earnings Data
Report Date
Apr 25, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.47Last Year’s EPS
0.43Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 28, 2025
|% Change Since: -3.43%
|Next Earnings Date:Apr 25, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive outlook with strong deposit growth and improved asset quality. The completion of merger-related activities was also a significant highlight. However, challenges remain in achieving robust loan growth and maintaining noninterest income levels.Company Guidance
During the fourth quarter earnings call for Provident Financial Services, the company reported net earnings of $48.5 million, or $0.37 per share, with an annualized adjusted return on average assets of 1.05% and an adjusted return on average tangible equity of 15.39%. The company's core net interest margin expanded by 4 basis points, while the reported margin compressed to 3.28%. Provident saw a $248 million increase in deposits, with an average cost of 2.25%, and commercial loans closed at approximately $713 million. Nonperforming loan ratios improved, decreasing by 8 basis points to 39 basis points. The fee-based business, Provident Protection Plus, experienced 19% organic growth, and Beacon Trust's assets under management grew by 7.5%, reaching $4.2 billion. As the company moves into 2025, they project return on average assets of approximately 1.15% and return on tangible equity of about 16%, with plans to maintain operating expenses around $112 million to $115 million quarterly.Strong Deposit Growth
Deposits grew by $248 million or 5.4% annualized. The average cost of total deposits decreased 11 basis points to 2.25%.
Improved Asset Quality
Nonperforming loan ratio decreased 8 basis points to 39 basis points. Net charge-offs decreased to $5.5 million from $6.8 million in the trailing quarter.
Fee-Based Business Success
Provident Protection Plus had 19% organic growth in the fourth quarter. Beacon Trust assets under management grew to $4.2 billion, a 7.5% growth relative to last year.
Merger Completion
All merger-related charges have been recognized, with no further expenses expected in 2025, setting a foundation for growth.
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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
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PFS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 28, 2025 | $18.95 | $18.08 | -4.59% |
| Oct 29, 2024 | $18.74 | $18.58 | -0.85% |
| Jul 25, 2024 | $17.88 | $18.31 | +2.40% |
| Apr 18, 2024 | $13.04 | $13.71 | +5.14% |
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.
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FAQ
When does Provident Financial Services (PFS) report earnings?
Provident Financial Services (PFS) is schdueled to report earning on Apr 25, 2025, TBA Not Confirmed.
What is Provident Financial Services (PFS) earnings time?
Provident Financial Services (PFS) earnings time is at Apr 25, 2025, TBA Not 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 2025 (Q1) is 0.47.
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