NYSE$PFS
Provident Financial Services Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Reported net income of $44.8 million, or $0.58 per basic and diluted share, driven by improved economic conditions and lower credit loss allowance requirements.
Provident Financial Services reported a strong second quarter with net income of $44.8 million, or $0.58 per share, compared to $14.3 million, or $0.22 per share, for the same period last year. The results were driven by improved economic conditions, lower credit loss provisions, and contributions from the SB One Bancorp merger. The company experienced record revenues and net interest income, along with growth in non-interest bearing deposits.
- Net income increased to $44.8 million, or $0.58 per share, compared to $14.3 million, or $0.22 per share, year-over-year.
- Net interest income rose to $90.9 million, driven by growth in average earning assets and favorable liability repricing.
- Non-interest income increased to $21.2 million, boosted by fee income, insurance agency income, and wealth management income.
- Total assets reached $13.22 billion, reflecting increases in total investments and cash and cash equivalents.
Headline financials
Revenue & EPS history
Provident Financial · Revenue · Quarterly
$112M
Revenue by segment
Provident Financial · $9.09M total across 3 segments · Q3 2023
- Fees$6.13M—67.5%
- BOLI$1.82M—20.0%
- Other Income$1.14M—12.5%
Forward guidance
The loan pipeline heading into the third quarter is very strong.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
-0.1%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+0.6%
Avg return
30 days after
49%
34 / 69 earnings
Positive
+10.8%
Q4 2018
Best reaction
-15.1%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.3% | -0.3% | -2.2% | |
| Q4 2025 | +6.8% | +9.0% | +1.0% | |
| Q3 2025 | -1.1% | -1.5% | +3.3% | |
| Q2 2025 | -2.6% | -2.0% | +2.9% | |
| Q1 2025 | -2.0% | -3.0% | -2.3% | |
| Q4 2024 | -4.6% | -5.0% | -4.9% | |
| Q3 2024 | -1.5% | -2.4% | +10.4% | |
| Q2 2024 | +0.4% | -0.1% | +3.0% | |
| Q1 2024 | +6.2% | +14.0% | +18.8% | |
| Q4 2023 | +1.2% | +1.8% | -13.2% | |
| Q3 2023 | +1.6% | +1.4% | +9.7% | |
| Q2 2023 | -1.0% | -3.7% | -15.8% | |
| Q1 2023 | +1.0% | -9.7% | -5.5% | |
| Q4 2022 | +2.5% | +5.9% | +4.3% | |
| Q3 2022 | +7.0% | +4.7% | +8.1% | |
| Q2 2022 | +1.3% | -0.2% | -0.0% | |
| Q1 2022 | -1.0% | +3.3% | +4.7% | |
| Q4 2021 | +2.5% | +1.0% | +0.4% | |
| Q3 2021 | +2.2% | +3.1% | -2.4% | |
| Q2 2021 | -1.3% | -1.1% | +2.4% | |
| Q1 2021 | +1.1% | +3.0% | +5.1% | |
| Q4 2020 | -3.7% | -2.5% | +8.1% | |
| Q3 2020 | +6.0% | +1.3% | +21.3% | |
| Q2 2020 | -6.4% | -8.0% | -8.1% | |
| Q1 2020 | -15.1% | -20.1% | -19.0% | |
| Q4 2019 | -1.7% | -0.4% | -15.2% | |
| Q3 2019 | +0.8% | +0.6% | -3.2% | |
| Q2 2019 | -3.6% | -2.4% | -6.4% | |
| Q1 2019 | +0.6% | -2.1% | -9.0% | |
| Q4 2018 | +10.8% | +11.3% | +11.8% | |
| Q3 2018 | +8.5% | +6.5% | +7.9% | |
| Q2 2018 | -7.1% | -7.8% | -7.4% | |
| Q1 2018 | -1.5% | -1.0% | +5.2% | |
| Q4 2017 | -3.6% | -4.5% | -5.8% | |
| Q3 2017 | -1.3% | -2.1% | -2.1% | |
| Q2 2017 | +3.0% | +2.4% | -3.5% | |
| Q1 2017 | -2.6% | -2.6% | -9.4% | |
| Q4 2016 | -1.5% | -1.7% | -0.0% | |
| Q3 2016 | +4.9% | +1.7% | +25.7% | |
| Q2 2016 | -0.2% | +0.3% | +5.3% | |
| Q1 2016 | -1.5% | — | — | |
| Q4 2015 | +4.2% | — | — | |
| Q3 2015 | -3.5% | — | — | |
| Q2 2015 | +3.7% | — | — | |
| Q1 2015 | -3.3% | — | — | |
| Q4 2014 | +3.4% | — | — | |
| Q3 2014 | +2.2% | — | — | |
| Q2 2014 | -0.5% | — | — | |
| Q1 2014 | -3.3% | — | — | |
| Q4 2013 | -6.7% | — | — | |
| Q3 2013 | +6.2% | — | — | |
| Q2 2013 | +0.5% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2012 | -3.7% | — | — | |
| Q2 2012 | +0.9% | — | — | |
| Q1 2012 | +1.3% | — | — | |
| Q4 2011 | -3.4% | — | — | |
| Q3 2011 | -4.2% | — | — | |
| Q2 2011 | -1.7% | — | — | |
| Q1 2010 | +0.3% | — | — | |
| Q1 2011 | +0.4% | — | — | |
| Q4 2009 | -1.1% | — | — | |
| Q4 2010 | -1.1% | — | — | |
| Q4 2008 | -1.1% | — | — | |
| Q3 2009 | +0.7% | — | — | |
| Q3 2010 | +0.7% | — | — | |
| Q2 2009 | +0.7% | — | — | |
| Q2 2010 | +0.7% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro