Provident Finl Stock Price, News & Analysis

Provident Financial Services (NYSE:PFS) achieved a net income of $48.6 million or $0.63 per share for Q1 2021, up from $14.9 million or $0.23 per share in Q1 2020. The increase was supported by a negative provision for credit losses of $15.0 million, and stronger asset quality. Total assets rose to $13.13 billion, and total deposits increased by $459.7 million to $10.30 billion. The Board declared a $0.23 dividend per share payable on May 28, 2021. The company continues to focus on growth opportunities resulting from economic recovery.

Broomall, PA, April 6, 2021 - The Golf Association of Philadelphia (GAP) has announced a corporate partnership with Provident Bank, making it the Official Bank of GAP and the presenting sponsor of the 119-year-old Joseph H. Patterson Memorial Cup. Scheduled for August 4-5 at Manufacturers' Golf & Country Club, this partnership enhances GAP's services for its members while providing Provident Bank extensive marketing opportunities. Provident Bank's commitment to GAP aligns with its long-standing dedication to community service.

Provident Financial Services, Inc. (NYSE: PFS) will announce its financial results for Q1 2021 on April 30, 2021, at 8:00 a.m. ET. Investors can access the earnings release on their website. A conference call is scheduled for the same day at 10:00 a.m. ET to discuss the results. As of December 31, 2020, the company reported assets totaling $12.9 billion and operates branches in New Jersey, Pennsylvania, and New York. For additional information, visit www.Provident.Bank.

Provident Financial Services, Inc. (NYSE:PFS) reported a net income of $40.6 million or $0.53 per share for Q4 2020, up from $26.0 million or $0.40 per share in Q4 2019. For the full year, net income decreased to $97.0 million or $1.39 per share from $112.6 million or $1.74 in 2019, attributed to the COVID-19 pandemic impacts and integration costs from the SB One Bancorp acquisition. Total assets rose to $12.92 billion, reflecting a significant increase following the acquisition. The Board also authorized a new stock repurchase program covering up to 3.9 million shares.

Provident Bank has opened its eighth location in Bergen County, New Jersey, at 345 Franklin Avenue, Wyckoff. This new branch provides a modern, full-service banking experience with features such as a drive-through and extended hours. The branch is led by Maureen Cornicelli, who has over 35 years of retail banking experience. Provident Bank, a subsidiary of Provident Financial Services, Inc. (NYSE:PFS), reported assets of $12.87 billion as of September 30, 2020, and showcases a strong commitment to the local community.

Provident Financial Services, Inc. (NYSE: PFS) will release its financial results for the quarter and year ending December 31, 2020, on January 29, 2021, at 8:00 a.m. ET. The earnings release will be available on www.Provident.Bank under the Investor Relations section. An investor conference call is scheduled for the same day at 10:00 a.m. ET, with domestic and international dial-in options provided. The replay will be accessible from 12:00 p.m. on January 29 until February 12, 2021. As of September 30, 2020, the company reported assets of $12.9 billion.

Provident Bank has announced key leadership appointments following its merger with SB One Bank. Vanessa Easse is now Vice President and Director of Retail Operations, while Ana Marques takes on the role of Sales Administration Manager. Additionally, Samera Martinez, Maria Navedo, and Lisa H. Van Cleve have been appointed as Regional Managers. These changes aim to enhance operational efficiency and customer service within the bank’s retail division. As of September 30, 2020, Provident Bank reported assets of $12.87 billion and $9.56 billion in deposits.

Provident Financial Services, Inc. (NYSE:PFS) reported a net income of $27.1 million ($0.37/share) for Q3 2020, down from $31.4 million ($0.49/share) in Q3 2019. For the nine months, net income was $56.4 million ($0.84/share) versus $86.7 million ($1.34/share) last year. The SB One Bancorp acquisition boosted assets by $2.19 billion, but also introduced non-recurring charges of $2 million for Q3. Provisions for credit losses increased to $6.7 million in Q3 due to COVID-19 impacts. A quarterly dividend of $0.23/share was declared, payable on November 27, 2020.