Provident Finl Stock Price, News & Analysis

Provident Bank (NYSE:PFS) on Oct 14, 2025 appointed Renee Altomonte as Executive Vice President, Retail Banking Director.

Reporting to Vito Giannola, she will oversee the branch network across New Jersey, Eastern Pennsylvania, and parts of New York, lead retail sales and service, optimize branch operations, and execute the retail strategic plan to grow deposits and the customer base while enhancing customer experience.

Altomonte brings over 30 years of financial‑services leadership, including senior roles at TD Bank, and will focus on driving profitable growth and operational excellence across the retail footprint.

Provident Bank (NYSE:PFS) appointed Annamaria Vitelli as Executive Vice President, Chief Growth Officer for Beacon Trust on October 7, 2025. The newly created role will oversee growth and retention of client relationships, lead business development and wealth advisory teams, and collaborate with Beacon Trust President Valerie Murray on a strategic sales and retention plan to expand market presence.

Ms. Vitelli previously served as Executive Vice President, Head of Hawthorn at PNC Private Bank, where she led an ultra-high-net-worth segment and oversaw a team of more than 200 professionals serving clients with investable assets exceeding $20 million. She holds a J.D. and an LL.M. in Taxation, both cum laude from Temple University Beasley School of Law.

Provident Financial Services (NYSE:PFS) has scheduled its Q3 2025 earnings conference call for October 30, 2025, at 2:00 p.m. ET. The financial results for the quarter ending September 30, 2025, will be released on October 29, 2025, after market close.

The company, which operates through Provident Bank with assets of $24.5 billion as of June 30, 2025, will make the earnings release available on their website. The bank maintains a network of branches across New Jersey, eastern Pennsylvania, and select New York counties, offering additional services through subsidiaries Beacon Trust Company and Provident Protection Plus.

Provident Financial Services (NYSE:PFS) received coverage initiation from Stonegate Capital Partners following strong Q2 2025 performance. The company reported record quarterly revenue of $214.2M, with net income reaching $72.0M ($0.55 per share), up from $64.0M ($0.49 per share) in Q1 2025 and improving significantly from a net loss of $11.5M in Q2 2024.

The quarterly performance was driven by higher net interest income from new loan originations and improved adjustable-rate loan repricing. Net interest income reached $187.1M, complemented by $27.1M in non-interest income. Commercial loan balances grew by $319.3M, while non-performing assets improved to 0.44% of total assets.

The Provident Bank Foundation (PBF) has announced its first-ever Empowerment Grant recipients, awarding 41 multi-year grants totaling $515,000 annually to nonprofit organizations across New Jersey, New York, and Pennsylvania. The grants, ranging from $5,000 to $20,000 each, will be automatically renewed in 2026.

The grants focus on three priority areas: Education, Human Services, and Workforce Development. Recipients include organizations working in community colleges, vocational programs, housing assistance, food security, healthcare access, youth mental health, job training, and reentry programs. The initiative emerged from PBF's strategic revisioning process aimed at advancing equity and inclusion, particularly supporting communities affected by systemic inequities.

Provident Bank (PFS) has appointed Michael A. Perito as Senior Vice President and Head of Corporate Strategy, a newly created position. Reporting to EVP and Chief Accounting Officer Adriano Duarte, Perito will oversee the bank's strategic planning, growth initiatives, and market alignment.

Perito brings nearly 15 years of experience in financial services and fintech. He joins from The Travillian Group, where he founded their bank consulting practice. Previously, he served as Managing Director at Keefe, Bruyette & Woods, covering fintech-enabled and regional banks. His expertise includes strategic planning, investor relations, corporate development, and digital strategy.

Provident Financial Services (NYSE:PFS) announced that its Board of Directors has declared a quarterly cash dividend of $0.24 per common share. The dividend will be paid on August 29, 2025, to stockholders of record at the close of business on August 15, 2025.

Provident Financial Services (NYSE:PFS) reported strong Q2 2025 financial results with net income of $72.0 million, or $0.55 per share, compared to $64.0 million in Q1 2025 and a net loss of $11.5 million in Q2 2024.

The company achieved record revenue of $214.2 million, including record net interest income of $187.1 million. The net interest margin increased to 3.36%, while the C&I loan portfolio grew by 16.26% annualized to $4.69 billion. Asset quality remained strong with non-performing assets at 0.44% and minimal net charge-offs of 0.03%.

Notable improvements include a $2.7 million benefit to credit loss provisions, increased efficiency with a 53.52% ratio, and tangible book value growth of 3.2% to $14.60 per share.

Provident Bank (NYSE:PFS) has appointed Maheshkumar Kandasamy as SVP, Enterprise Architecture Director. In this role, Kandasamy will lead the bank's enterprise and business solutions architecture function, reporting to Satish Harikrishnan, SVP, Technology Services Director.

With over 24 years of experience in technology environments, Kandasamy will focus on aligning technology strategy with business objectives, emphasizing scalability, security, and regulatory compliance. His responsibilities include establishing enterprise architecture practices, driving modernization initiatives, and implementing AI/ML solutions for growth.

Prior to this appointment, Kandasamy served as Director of Core Banking at Teachers Federal Credit Union and previously as Global Delivery Head at Mphasis Corporation.