NYSE$PFS
Provident Financial Services Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported net income, solid loan growth, and continued discussions with regulators concerning the merger.
Provident Financial Services, Inc. reported a net income of $27.3 million, or $0.36 per basic and diluted share, for the three months ended December 31, 2023. The company's total loan portfolio increased by $206.1 million, or 7.7% annualized, reaching $10.87 billion. The pending merger with Lakeland Bancorp, Inc. has been extended to March 31, 2024, to allow additional time for regulatory approvals.
- Net income was $27.3 million, or $0.36 per share.
- Total loan portfolio increased $206.1 million, or 7.7% annualized, to $10.87 billion.
- Net interest income before provision for credit losses remained relatively flat at $95.8 million.
- Merger deadline with Lakeland Bancorp, Inc. extended to March 31, 2024.
Headline financials
Revenue & EPS history
Provident Financial · Revenue · Quarterly
$95.8M
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
Provident is actively engaged in discussions with regulators concerning the merger. Both Provident and Lakeland have agreed to extend the merger deadline to March 31, 2024, to allow additional time to obtain the necessary regulatory approvals. Provident looks forward to closing the transaction as soon as possible following receipt of the approvals.
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 Q4 2023
-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