Provident Finl Stock Price, News & Analysis

Provident Financial Services, Inc. (NYSE:PFS) reported a net income of $37.3 million ($0.49 per share) for Q4 2021, down from $40.6 million ($0.53 per share) in Q4 2020. For the full year, net income surged to $167.9 million ($2.20 per basic share) from $97.0 million in 2020, driven by higher interest-earning assets and a $24.3 million negative provision for credit losses. Despite strong loan growth, total loans decreased by $241.3 million primarily due to PPP loan forgiveness. The company declared a quarterly dividend of $0.24 per share, with total assets rising to $13.78 billion.

Provident Bank announced the appointment of Brian Rafanello as Senior Vice President and Head of Treasury Management on January 4, 2022. Based in Iselin, NJ, Rafanello will lead the Treasury Management department, focusing on sales, service, and operations. His role includes developing strategies for treasury management products aimed at middle market, commercial real estate, public sector, and small businesses. Rafanello brings over 25 years of experience, previously serving at Santander Bank and Citibank, enhancing Provident's capabilities in growing their treasury management portfolio.

Provident Financial Services (NYSE: PFS) announced it will release its financial results for Q4 and FY 2021 on January 28, 2022, at 8:00 a.m. ET. A conference call for discussion of these results will take place the same day at 10:00 a.m. ET. Investors can access the call through a dedicated dial-in or via webcast on the company’s website. As of September 30, 2021, Provident had total assets of $13.4 billion and operates branches in New Jersey, Pennsylvania, and New York.

Provident Bank has appointed Robert Tharp as First Vice President, Retail Sales & Services Director, effective immediately. Based at the Iselin, NJ headquarters, Tharp will oversee the execution of retail sales strategies and business development initiatives. With over 35 years in retail banking, including senior roles at TD Bank and Hudson United Bank, he aims to enhance Provident's growth strategy. As of September 30, 2021, Provident Financial Services, Inc. (NYSE:PFS) reported assets of $13.39 billion and deposits of $10.84 billion.

Provident Financial Services (NYSE:PFS) reported a net income of $37.3 million ($0.49 per share) for Q3 2021, up from $27.1 million ($0.37) in Q3 2020. For the nine months ending September 30, 2021, net income was $130.6 million ($1.71 per share), significantly up from $56.4 million ($0.84) in the prior year. The company benefited from reduced credit loss provisions and increased interest-earning assets post its merger with SB One Bancorp. A quarterly dividend of $0.24 per share has been declared, marking a 4.3% increase from the previous quarter.

Provident Financial Services (NYSE: PFS) will release its financial results for the third quarter ending September 30, 2021, on October 29, 2021, at 8:00 a.m. (ET). The results will be accessible on the company's website under Investor Relations. An investor conference call is scheduled for the same day at 10:00 a.m. (ET), with additional details provided for dial-in and internet access. As of June 30, 2021, the company reported assets of $13.2 billion.

Provident Financial Services, Inc. (NYSE:PFS) announces the appointment of Bennett MacDougall as Senior VP and General Counsel for Provident Bank and Beacon Trust Company. MacDougall, who has extensive experience in legal matters related to financial institutions, previously held significant legal roles at BNY Mellon and Deutsche Bank. He will oversee all legal affairs and advise on policy matters. Provident Bank, a community-focused financial institution, reported assets of $13.22 billion and deposits of $10.59 billion as of June 30, 2021.

Provident Financial Services, with the ticker PFS, reported a substantial net income of $44.8 million for Q2 2021, translating to $0.58 per share, a significant increase from $14.3 million or $0.22 per share in Q2 2020. For the first half of 2021, net income reached $93.3 million compared to $29.2 million in 2020, driven by lower credit loss allowances and the addition of earning assets from the SB One merger. Total assets grew to $13.22 billion, while total deposits surged by $752.2 million in the same period.