Welcome to our dedicated page for Provident Financial Services news (Ticker: $PFS), a resource for investors and traders seeking the latest updates and insights on Provident Financial Services stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Provident Financial Services's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Provident Financial Services's position in the market.
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Provident Financial Services, Inc. (NYSE:PFS) and Lakeland Bancorp, Inc. (Nasdaq: LBAI) have agreed to extend their merger agreement to March 31, 2024, to obtain the required regulatory approvals. The combined company will operate under the Provident name, providing enhanced scale, growth opportunities, and profitability, benefiting from complementary strengths of both companies.
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-1.15%
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Provident Bank (PBNK) Survey: 61% of Businesses Expect to Increase Hiring in 2024
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3.46%
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Beacon Trust (Ticker: N/A) named on Forbes ranking of America's Top RIA Firms, reaffirming commitment to excellence in wealth management. The second annual ranking includes 250 advisory firms with cumulative assets of more than $1.1 trillion. The list is based on an independent national survey conducted by SHOOK Research, including qualitative and quantitative factors, compliance records, revenue produced, and interviews. Beacon Trust provides a comprehensive offering of services, including investment advisory, financial planning, tax compliance and planning, trust and estate administration, as well as banking and insurance services through Provident Bank.
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Provident Bank welcomes Chao Huang as Assistant General Counsel, Investor Relations Specialist. Mr. Huang will be responsible for reviewing and preparing quarterly earnings documents, analyst presentations, news releases, and more. He brings over 10 years of experience in corporate litigation and transactional law related to finance and real estate.
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0.14%
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Provident Financial Services reports net income of $28.5 million for Q3 2023, compared to $32.0 million in Q2 2023 and $43.4 million in Q3 2022. Net income for 9 months ended September 30, 2023, is $101.1 million, compared to $126.6 million in the same period last year. Net interest income decreased by $2.9 million. The Company's total loan portfolio increased by $137.1 million to $10.67 billion. Non-performing loans declined to $39.5 million. The Company recorded a provision for credit losses of $11.0 million. The Company declared a quarterly cash dividend of $0.24 per common share.
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Provident Financial Services, Inc. (NYSE: PFS) expects to release Q3 2023 financial results on October 26, 2023. The company reported assets of $14.03 billion as of June 30, 2023.
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53% of couples seek financial advice for wedding expenses; 85% concerned about impact on overall financial well-being; 46% rely on personal savings, 22% take out loans, 21% borrow from pension/401(k); 72% have budgets under $50,000; cost-saving measures include downsizing guest list, opting for cheaper attire, getting married on off-peak days, cutting traditional elements
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0.38%
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Provident Bank adds three experienced lenders to their New York/Metro commercial real estate team.
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Provident Financial Services, Inc. reported net income of $32.0 million for Q2 2023, compared to $40.5 million in Q1 2023 and $39.2 million in Q2 2022. Net income was impacted by increased funding costs and provision for credit losses. The company's loan portfolio increased by 12.0% to $10.53 billion. Net interest income decreased by $9.2 million, and net interest margin decreased by 37 basis points. The company recorded a provision for credit losses of $10.4 million. The Board of Directors declared a quarterly cash dividend of $0.24 per share.
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0.31%
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Provident Bank announces the addition of Diane Gigliotti as Senior Vice President, Controller, and Mary Brown as Senior Vice President, Chief Compliance Officer. Gigliotti will be responsible for managing accounting, controls, financial operations, budgeting, forecasting, and strategic planning. Brown will develop and implement a comprehensive compliance program and oversee community reinvestment initiatives. Both leaders bring extensive experience in finance and risk management.
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Provident Financial Services, Inc.
NYSE:PFS
PFS Rankings
PFS Stock Data
1.16B
72.06M
3.56%
75.24%
6.33%
Savings Institutions
Finance and Insurance
United States of America
JERSEY CITY
About PFS
established in 1839, provident bank has a strong history of service and stability. as we expanded, our capabilities grew to rival larger regional and national banks. however, our advantage over those larger banks is that we have also maintained our commitment to providing personal service. we serve individual and commercial customers with a wide scope of products and services. from personal checking to commercial loans, each account comes with individual attention from a provident banker. provident bank is the wholly owned subsidiary of provident financial services, inc. (nyse:pfs) and serves its customers through an extensive network of more than 80 branches throughout new jersey and pennsylvania and telephone and online banking systems. member fdic