Provident Financial Services (PFS) Q3 2026 Earnings
Core EPS excludes a $17.5 million one-time loss on extinguishment of debt, $3.7 million of core conversion related costs and $465,000 of branch restructuring expenses; GAAP diluted EPS was $0.53.
How Did PFS Stock React to Q3 2026 Earnings?
Did PFS Beat Earnings? Q3 2026 Results
Yes. Provident Financial Services reported Q3 2026 earnings of $0.65 a share on Oct 29, 2026, beating the $0.61 consensus estimate by 6.3%. Revenue was $238.4M against a $237.9M estimate.
Provident Financial Services posted a clean beat to open its third-quarter 2026 results, with adjusted EPS of $0.65 clearing the $0.61 consensus estimate by 6.26%, extending the company's streak of consensus EPS beats to six consecutive quarters. Revenue of $238.45 million edged ahead of the $237.89 million analyst forecast, though it ran 32.6% below the year-ago period, reflecting the reshaped revenue base following the Lakeland Bancorp merger integration. The most material driver of the quarter was a record $208.00 million in net interest income, up from $194.30 million a year earlier, as new loan originations at current market rates and favorable repricing of adjustable-rate assets lifted the net interest margin to 3.50%. On a GAAP basis, net income came in at $69.20 million, or $0.53 per diluted share, weighed down by a $17.50 million loss on debt extinguishment, $3.70 million in core conversion costs and $465,000 in branch restructuring charges. Looking ahead, management pointed to a $3.03 billion loan pipeline carrying a weighted average rate approaching 6.50% as evidence of continued profitable organic growth momentum.
- Record net interest income of $208.0 million, up $13.7 million year over year on earning asset growth and margin expansion
- Net interest margin of 3.50% vs 3.48% in the prior quarter and 3.43% a year ago; core NIM up 7 bps sequentially to 3.16%
- Originations of new loans at current market rates and favorable repricing of adjustable rate loans and deposits
- Cost of interest-bearing liabilities down 17 bps year over year to 2.79%
- BOLI income up $3.8 million year over year due to benefit claims; insurance agency income up $803,000
- Core PPNR of $119.5 million vs $108.7 million in the prior year quarter; core PPNR ROAA of 1.85%
- Core efficiency ratio of 49.93% vs 51.01% a year ago
- Average loans up $974.4 million (5.15%) year over year; average deposits up $1.61 billion (8.72%)
- Discrete carry-back tax credit benefits lowered the effective tax rate to 25.3% from 29.4%
“We continued our strong performance, delivering another quarter of solid financial results including record revenues. Building momentum in both our spread and fee-based businesses drove 10% year-over-year growth in our pre-provision net revenue, while core deposits grew nearly 6% annualized.”
Provident Financial Services CEO, on the earnings call
What Is Provident Financial Services's Outlook?
Management expressed optimism about continued profitable organic growth. This was supported by a loan pipeline of $3.03 billion as of September 30, 2026, with a weighted average interest rate approaching 6.50%. Both CRE and C&I pipelines exceeded $1.0 billion for the third consecutive quarter, which management credited to its investments in the commercial banking group. No formal financial guidance was provided.
PFS YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $238.4M | $353.7M | −32.6% |
| Operating Income | $92.6M | $101.6M | −8.9% |
| Net Income | $69.2M | $71.7M | −3.6% |
PFS Revenue by Segment
When Does Provident Financial Services Report Next?
Figures from SEC filings and company reports. Not investment advice.