Stonegate Capital Partners Initiates Coverage on Provident Financial Services Inc (PFS)

Rhea-AI Summary

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.

Positive

• Record quarterly revenue of $214.2M
• Net income increased to $72.0M, up from $64.0M in Q1 2025
• Strong commercial loan growth of $319.3M
• Improved credit quality with non-performing assets at just 0.44% of total assets
• Successfully transitioned from net loss in Q2 2024 to significant profit in Q2 2025

Negative

• Higher compensation expenses reported
• Lower average low-cost deposits

Dallas, Texas--(Newsfile Corp. - September 12, 2025) - Provident Financial Services Inc (NYSE: PFS): Stonegate Capital Partners initiates their coverage on Provident Financial Services Inc (NYSE: PFS). For 2Q25, Provident Financial Services reported net income of $72.0M, up from $64.0M in 1Q25. This equates to basic and diluted EPS of $0.55, compared to $0.49 in 1Q25 and a net loss of $11.5M in 2Q24. The sequential increase was driven by higher net interest income from new loan originations at favorable market rates and improved repricing on adjustable-rate loans, combined with lower non-interest expenses. This was partly offset by higher compensation expenses and lower average low-cost deposits. Management highlighted that this quarter delivered record revenue of $214.2M, supported by both volume growth and margin expansion, while maintaining strong credit quality.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• PFS delivered record revenue of $214.2M, supported by net interest income of $187.1M and non-interest income of $27.1M.
• Net income rose to $72.0M ($0.55/share), up from $64.0M in 1Q25 and a net loss in 2Q24.
• Commercial loan balances grew $319.3M in the quarter, while non-performing assets improved to just 0.44% of total assets.

Click image above to view full announcement.

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About Stonegate

Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266279

FAQ

What was Provident Financial Services (PFS) revenue and earnings for Q2 2025?

PFS reported record revenue of $214.2M and net income of $72.0M ($0.55 per share) in Q2 2025.

How did PFS Q2 2025 earnings compare to previous quarters?

PFS Q2 2025 earnings of $0.55 per share improved from $0.49 in Q1 2025 and significantly recovered from a net loss in Q2 2024.

What drove PFS's revenue growth in Q2 2025?

Growth was driven by higher net interest income from new loan originations at favorable rates, improved repricing on adjustable-rate loans, and commercial loan growth of $319.3M.

How is PFS's asset quality performing?

PFS maintained strong credit quality with non-performing assets at just 0.44% of total assets, showing improvement in asset quality.

What was PFS's net interest income and non-interest income for Q2 2025?

PFS reported net interest income of $187.1M and non-interest income of $27.1M in Q2 2025.