Recap: Provident Financial Q3 Earnings

Shares of Provident Financial PFS were unchanged after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 24.49% year over year to $0.37, which beat the estimate of $0.18.

Revenue of $81,985,000 up by 11.50% year over year, which beat the estimate of $80,620,000.

Guidance

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

Provident Financial hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: Oct 30, 2020

Time: 10:00 AM

ET Webcast URL: https://78449.choruscall.com/dataconf/productusers/pfs/mediaframe/40863/indexr.html

Recent Stock Performance

Company's 52-week high was at $25.49

52-week low: $9.05

Price action over last quarter: down 2.05%

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.