PFS Earnings Prediction
The chart below shows how PFS performed 10 days before and after its earnings report, based on data from the past quarters. Typically, PFS sees a -2.54% change in stock price 10 days leading up to the earnings, and a -0.45% change 10 days following the report. On the earnings day itself, the stock moves by +1.25%. This data can give you a slight idea of what to expect for the next quarter's release.
PFS Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
198.60M
82.02%
28.64%
Gross Margin
--
--
--
Operating Margin
40.70%
11.91%
-2708.97%
Net Margin
23.37%
-10.67%
-414.11%
EPS
0.36
-5.26%
-427.27%
No Data Available
PFS Earnings Analysis
Provident Financial Services, Inc. Corporation (PFS.N) Earnings Conference Call
Positive
Core System Conversion Complete: As of September 3rd, the conversion of Lakeland Bank's core system was completed, and we are now operating as a fully united organization.
Net Earnings Report: During the quarter, we reported net earnings of $46.4 million, or $0.36 per share, on an annualized adjusted return on average assets of 0.95%.
Return on Average Assets: Our adjusted pre-tax pre-provision return on average assets was 1.48% for the third quarter.
Tangible Book Value Increase: Our tangible book value per share increased 4.5% to 13.66%, and our tangible common equity ratio was 7.68% compared to 7.34% for the trailing quarter.
Quarterly Cash Dividend Approval: Our Board of Directors approved a quarterly cash dividend of $0.24 per share payable on November 29.
Negative
Quarterly Earnings Report: Duri ng the quarter, we reported net earnings of $46.4 million, or $0.36 per share, on an annualized adjusted return on average assets of 0.95% and a return on average tangible equity of 14.53%.
Adjusted Return on Assets: Our adjusted pretax pre-provision return on average assets was 1.48% for the third quarter.
Deposit Cost Increase: During the quarter, our average cost of total deposits increased 9 basis points to 2.36%.
Cost of Funds Increase: Our total cost of funds increased 6 basis points to 2.62% and remains favorable relative to our peer group.
Loan Loss Provision Increase: The provision for loan losses increased to $9.6 million this quarter, reflecting specific reserve requirements and some deterioration in the macroeconomic variables that drive our CECL estimate.
PFS FAQs
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PFS Earning Call Sentiment
Provident Financial Services, Inc. (PFS) Q3 2024 Earnings Call Transcript
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00:00
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PFS.N
1.67%Positive
The earnings call presents a mixed picture: financial performance is solid with increased earnings and revenue, and there's optimism about client activity and fee-based growth. However, concerns arise from increased nonperforming loans, higher deposit costs, and regulatory challenges post-merger. The Q&A section reveals management's reluctance to discuss certain risks, indicating potential uncertainties. Given the market cap of $1.77 billion, the stock is likely to react moderately, resulting in a neutral prediction (-2% to 2%) over the next two weeks.
