NYSE$PFS
Provident Financial Services Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported strong financial results with continued expansion of the net interest margin and strong net interest income growth quarter over quarter.
Provident Financial Services, Inc. reported net income of $43.4 million, or $0.58 per basic and diluted share for the three months ended September 30, 2022. The net interest margin expanded 30 basis points from the trailing quarter as loan yields increased, and benefited from deployment of cash balances into loan growth, while continuing to manage funding costs.
- Net interest income increased $10.0 million to $109.5 million for the three months ended September 30, 2022, from $99.5 million for the trailing quarter.
- Net interest margin increased 30 basis points to 3.51% for the quarter ended September 30, 2022, from 3.21% for the trailing quarter.
- The average yield on total loans increased 49 basis points to 4.38% for the quarter ended September 30, 2022, compared to the trailing quarter, while the average cost of deposits, including non-interest bearing deposits, increased 15 basis points to 0.35% for the quarter ended September 30, 2022.
- The Company’s total commercial loan portfolio, excluding Paycheck Protection Program (“PPP”) loans, increased $82.9 million, or 3.9% annualized, to $8.57 billion at September 30, 2022, from $8.48 billion at June 30, 2022.
Headline financials
Revenue & EPS history
Provident Financial · Revenue · Quarterly
$138M
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 Company provided no specific forward guidance in the earnings report.
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 Q3 2022
-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% | — | — |
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