Provident Financial Services (PFS) Tops Q1 EPS by 2c

Provident Financial Services (NYSE: PFS) reported Q1 EPS of $0.48, $0.02 better than the analyst estimate of $0.46.

Chairman, President and Chief Executive Officer Christopher Martin reflected: “Our first quarter's earnings continued to benefit from solid asset quality and diligent expense management. Our loan pipelines have increased and corresponding pull-through levels remained strong. Conversely, our increased deposit costs for the quarter reflect our efforts to acquire new customers and retain existing relationships.” Martin continued, “We completed the acquisition of Tirschwell & Loewy, Inc., a Manhattan-based registered investment advisor with approximately $750 million in assets on April 1, 2019, which will bring talent and depth to our wealth management subsidiary, Beacon Trust, and provide a physical presence in New York City."

For earnings history and earnings-related data on Provident Financial Services (PFS) click here.

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