Q1 25 EPS
$0.49
BEAT +3.81%
Est. $0.47
Q1 25 Revenue
$208.8M
BEAT +0.83%
Est. $207.0M
vs S&P Since Q1 25
+16.9%
BEATING MARKET
PFS +51.5% vs S&P +34.6%
Market Reaction
Did PFS Beat Earnings? Q1 2025 Results
Provident Financial Services posted a solid first-quarter 2025 earnings beat, reporting adjusted EPS of $0.49 against a consensus estimate of $0.47, a 3.81% beat, while revenue of $208.76 million edged past the $207.03 million estimate and climbed 13… Read more Provident Financial Services posted a solid first-quarter 2025 earnings beat, reporting adjusted EPS of $0.49 against a consensus estimate of $0.47, a 3.81% beat, while revenue of $208.76 million edged past the $207.03 million estimate and climbed 13.1% year over year. The standout driver behind those results was the May 2024 acquisition of Lakeland Bancorp, which expanded the company's asset base and pushed net interest income to $181.73 million, with the net interest margin widening 47 basis points year over year to 3.34% as deposit repricing gains and purchase accounting accretion took hold. Credit provisioning fell sharply to just $325,000 from $7.80 million in Q4 2024, lending further support to the bottom line, even as non-performing loans ticked higher to $103.22 million. Looking ahead, a loan pipeline that surged to $2.77 billion from $1.79 billion at year-end, carrying a weighted average rate of 6.31%, points to healthy origination momentum heading into the second quarter.
Key Takeaways
- • Lakeland Bancorp acquisition completed May 2024 nearly doubled asset base and drove net interest income growth
- • Net interest margin expanded 6 basis points sequentially to 3.34% driven by favorable deposit repricing
- • Average cost of deposits decreased 14 basis points sequentially to 2.11%
- • Credit provision dropped to $325,000 from $7.8 million in Q4 due to CECL model unemployment factor adjustment
- • Elimination of merger-related expenses that totaled $20.2 million in Q4 2024
- • Insurance agency income increased 17.9% year-over-year
- • Adjusted efficiency ratio improved to 54.43% from 55.43% in Q4 and 60.82% in Q1 2024
PFS YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
PFS Revenue by Segment
With YoY comparisons, source: SEC Filings
“With the integration of Lakeland behind us, we are starting to see the benefits of the transaction come to fruition. We are very pleased with our first quarter financial results and encouraged by the promising start to the year. Despite ongoing uncertainty in the markets, our core businesses, credit quality and risk management remain strong. Our team is focused on building the business, delivering exceptional customer service and creating value for all stakeholders while remaining agile in this rapidly changing economic and regulatory environment.”
— Anthony J. Labozzetta, Q1 2025 Earnings Press Release
PFS Earnings Trends
PFS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PFS EPS Trend
Earnings per share: estimate vs actual
PFS Revenue Trend
Quarterly revenue: estimate vs actual
PFS Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.55 | $0.61 | +11.31% | $225.2M | +0.00% |
| Q4 25 BEAT FY | $0.56 | $0.64 | +15.32% | $225.7M | +0.74% |
| FY Full Year | $2.14 | $2.23 | +4.05% | $870.4M | +0.22% |
| Q3 25 BEAT | $0.54 | $0.55 | +1.38% | $221.7M | +0.43% |
| Q2 25 BEAT | $0.50 | $0.55 | +10.73% | $214.2M | +0.27% |
| Q1 25 BEAT | $0.47 | $0.49 | +3.81% | $208.8M | +0.83% |