Provident Financial Services (PFS) Tops Q4 EPS by 17c

Provident Financial Services (NYSE: PFS) reported Q4 EPS of $0.53, $0.17 better than the analyst estimate of $0.36.

Christopher Martin, Chairman and Chief Executive Officer commented, “We ended 2020 with a solid quarter that reflects the positive contributions from our merger with SB One. Despite the difficult operating conditions posed by the pandemic and a persistent low interest rate environment, we effectively managed credit issues, improved our net interest margin and expanded fee income in the fourth quarter.” Martin added, “While it will take time for our economy to recover from the damage caused by the pandemic, we believe that we are well positioned to take advantage of growth opportunities afforded by the rollout of the vaccine and the anticipated economic recovery during 2021. We have a talented team of officers and employees who, in spite of the pandemic, successfully completed the acquisition, systems conversion and integration of SB One, while safely conducting our business in a manner designed to protect the health and well-being of our customers and employees.”

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

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