Provident Financial Services (PFS) Tops Q1 EPS by 19c

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Go back to Provident Financial Services (PFS) Tops Q1 EPS by 19c

Provident Financial Services, Inc. Announces First Quarter Earnings and Declares Quarterly Cash Dividend

April 30, 2021 8:00 AM EDT

ISELIN, N.J., April 30, 2021 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE: PFS) (the Company) reported net income of $48.6 million, or $0.63 per basic and diluted share, for the three months ended March 31, 2021, compared to net income of $14.9 million, or $0.23 per basic and diluted share, for the three months ended March 31, 2020.

Earnings for the quarter were aided by an improved economic outlook and resulting lower allowance for credit loss requirements, as well as additional earnings attributable to the July 31, 2020 acquisition of SB One Bancorp ("SB One"). For the three months ended... More