Provident Financial: Q1 Earnings Insights

Shares of Provident Financial PFS were unchanged in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 52.08% over the past year to $0.23, which missed the estimate of $0.34.

Revenue of $72,021,000 lower by 3.98% year over year, which beat the estimate of $71,580,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Apr 30, 2020

Time: 07:05 PM ET

Webcast URL: https://78449.choruscall.com/dataconf/productusers/pfs/mediaframe/37258/indexr.html

Technicals

52-week high: $27.47

52-week low: $9.05

Price action over last quarter: down 30.53%

Company Overview

Provident Financial Services is the holding company for The Provident Bank, a community-oriented bank. The company provides a comprehensive array of financial products and services through its network of branches throughout northern and central New Jersey, and certain counties in Pennsylvania. The company's strategy emphasizes growing high-return businesses in nonstandard markets, and maintaining a secured capital structure. Commercial loans represent a plurality of the company's loans, followed by construction loans. Net interest income is the largest portion of the company's net revenue.