Q1 26 EPS
$0.61
BEAT +11.31%
Est. $0.55
Q1 26 Revenue
$225.2M
BEAT +0.00%
Est. $225.2M
vs S&P Since Q1 26
+1.9%
BEATING MARKET
PFS +4.7% vs S&P +2.8%
Market Reaction
Did PFS Beat Earnings? Q1 2026 Results
Provident Financial Services delivered a stronger-than-expected first quarter, posting earnings of $0.61 per diluted share against a consensus estimate of $0.55, a beat of 11.31% that marks the company's fourth consecutive quarter of topping Wall Str… Read more Provident Financial Services delivered a stronger-than-expected first quarter, posting earnings of $0.61 per diluted share against a consensus estimate of $0.55, a beat of 11.31% that marks the company's fourth consecutive quarter of topping Wall Street's EPS forecasts. Net income climbed to $79.42 million, up from $64.03 million a year ago, as revenue of $225.20 million landed precisely in line with analyst expectations despite a 32.3% year-over-year decline tied to the prior-year base effects from the Lakeland merger integration. The primary engine behind the earnings improvement was pre-provision net revenue growth of 13.5%, powered by net interest income rising to $193.74 million from $181.73 million a year ago alongside record non-interest income of $31.45 million, led by insurance agency income that grew 21.2% year-over-year. Asset quality drew attention after non-performing loans rose to 0.73% of loans due to four senior housing commercial loans in bankruptcy, though management noted strong collateral positions and recorded a $2.10 million provision recapture. Looking ahead, CEO Labozzetta pointed to a record loan pipeline of $3.11 billion at a weighted average rate of 6.24% as a foundation for continued EPS growth and tangible book value compounding.
Key Takeaways
- • Pre-provision net revenue growth of 13.5% year-over-year
- • Net interest income expansion driven by new loan originations and favorable deposit repricing
- • Insurance agency income up 21.2% year-over-year due to contingent commissions and additional business
- • C&I loan portfolio growth of 10.3% annualized
- • Average cost of deposits declined to 1.94% from 2.11% year-over-year
- • $2.1 million recapture of previous provisions for credit losses
- • Efficiency ratio improved to 52.02% from 54.43% year-over-year
PFS Forward Guidance & Outlook
CEO Labozzetta expressed optimism about continued EPS growth and compounding of tangible book value, supported by a loan pipeline at record levels of $3.1 billion with a weighted average interest rate of 6.24%. Unfunded loan commitments totaled $3.96 billion as of March 31, 2026, up from $3.71 billion at year-end 2025.
PFS YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
PFS Revenue by Segment
With YoY comparisons, source: SEC Filings
“Provident delivered another strong quarter of financial performance, demonstrating the continued momentum in our business and the effectiveness of our strategic initiatives. Pre-provision, net revenue grew 13.5% year-over-year, driven by strong loan growth, modest margin expansion, and notable growth in insurance agency income. The bank's loan pipeline of $3.1 billion sits at record levels, and we remain optimistic about continued earnings per share growth and compounding of tangible book value moving forward.”
— Anthony J. Labozzetta, Q1 2026 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% |