Provident Financial Services, Inc. (PFS) Income Statement Analysis

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Complete financial analysis of Provident Financial Services, Inc. (PFS) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Provident Financial Services, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.

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Provident Financial Services, Inc. (PFS)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.provident.bank

About Provident Financial Services, Inc.

Provident Financial Services, Inc. operates as the bank holding company for Provident Bank that provides various banking products and services to individuals, families, and businesses in the United States. The company's deposit products include savings, checking, interest-bearing checking, money market deposit, and certificate of deposit accounts, as well as IRA products. Its loan portfolio comprises commercial real estate loans that are secured by properties, such as multi-family apartment buildings, office buildings, and retail and industrial properties; commercial business loans; fixed-rate and adjustable-rate mortgage loans collateralized by one- to four-family residential real estate properties; commercial construction loans; and consumer loans consisting of home equity loans, home equity lines of credit, marine loans, personal loans and unsecured lines of credit, and auto and recreational vehicle loans. The company also offers cash management, remote deposit capture, payroll origination, escrow account management, and online and mobile banking services; and business credit cards. In addition, it provides wealth management services comprising investment management, trust and estate administration, financial planning, tax compliance and planning, and private banking. Further, the company sells insurance and investment products, including annuities; operates as a real estate investment trust for acquiring mortgage loans and other real estate related assets; and manages and sells real estate properties acquired through foreclosure. As of December 31, 2021, it operated 96 full-service branch offices in northern and central New Jersey, as well as in Pennsylvania and New York counties. The company was founded in 1839 and is headquartered in Jersey City, New Jersey.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Revenue	451.38M	505.34M	452.83M	385.00M	361.77M	359.35M	333.90M	313.96M	305.10M	280.06M	260.16M	260.95M	248.83M	240.69M	214.50M	202.28M	185.47M	196.48M	210.68M	191.51M	153.71M	138.21M	23.14M
Cost of Revenue	47.40M	43.03M	38.61M	36.20M	33.83M	31.07M	28.80M	27.59M	28.84M	27.72M	24.46M	25.45M	23.24M	23.08M	25.12M	22.65M	20.77M	18.89M	19.72M	21.26M	19.41M	0.00	0.00
Gross Profit	403.98M	462.31M	414.22M	348.81M	327.94M	328.28M	305.10M	286.37M	276.26M	252.34M	235.70M	235.50M	225.59M	217.60M	189.38M	179.64M	164.71M	177.59M	190.96M	170.25M	134.30M	138.21M	23.14M
Gross Profit Ratio	89.50%	91.48%	91.47%	90.60%	90.65%	91.35%	91.38%	91.21%	90.55%	90.10%	90.60%	90.25%	90.66%	90.41%	88.29%	88.81%	88.80%	90.38%	90.64%	88.90%	87.37%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	203.76M	152.40M	149.63M	133.98M	118.17M	114.98M	113.24M	111.03M	104.73M	96.88M	87.68M	85.97M	90.29M	86.48M	89.84M	76.96M	72.18M	63.30M	64.80M	61.10M	54.68M	46.86M	0.00
Selling & Marketing	4.82M	5.19M	3.95M	4.40M	4.12M	3.84M	3.90M	3.69M	4.23M	5.01M	3.89M	4.14M	3.95M	4.05M	4.29M	4.11M	4.94M	3.82M	4.28M	5.97M	3.77M	3.00M	3.62M
SG&A	208.58M	157.59M	153.58M	138.38M	122.28M	118.81M	117.14M	114.71M	108.95M	101.89M	91.57M	90.11M	94.24M	90.53M	94.13M	4.11M	77.13M	67.11M	69.08M	67.07M	58.45M	49.87M	3.62M
Other Expenses	0.00	-58.05M	-379.29M	-395.83M	-336.96M	-289.76M	-53.18M	-52.78M	0.00	0.00	0.00	0.00	302.00K	170.00K	2.03M	1.41M	0.00	0.00	0.00	0.00	0.00	-89.03M	92.93M
Operating Expenses	208.58M	5.19M	-225.71M	-257.45M	-214.68M	-156.28M	3.90M	3.69M	4.23M	5.01M	3.89M	4.14M	3.95M	4.05M	4.29M	4.11M	4.94M	3.82M	4.28M	5.97M	3.77M	-39.17M	96.55M
Cost & Expenses	208.58M	5.19M	-225.71M	-257.45M	-214.68M	-156.28M	32.70M	31.28M	33.07M	32.73M	28.35M	29.59M	27.19M	27.13M	29.41M	26.75M	25.71M	22.71M	24.00M	27.23M	23.18M	-39.17M	96.55M
Interest Income	615.82M	466.18M	402.34M	363.31M	371.47M	359.83M	323.85M	302.32M	291.78M	279.36M	252.78M	262.26M	275.72M	286.53M	292.56M	304.32M	302.58M	282.14M	276.46M	229.54M	184.51M	177.38M	180.98M
Interest Expense	216.37M	48.63M	36.32M	50.74M	73.50M	59.15M	45.64M	43.75M	41.90M	40.47M	36.77M	44.92M	59.73M	77.57M	111.54M	132.25M	147.70M	117.61M	95.01M	67.19M	54.63M	63.24M	84.52M
Depreciation & Amortization	22.19M	23.71M	22.74M	20.04M	18.87M	10.13M	11.67M	12.79M	4.07M	2.76M	1.62M	2.47M	9.66M	3.83M	12.38M	6.08M	18.14M	19.66M	15.05M	22.83M	24.27M	9.75M	9.58M
EBITDA	0.00	417.96M	359.78M	322.71M	333.53M	324.92M	291.15M	271.04M	258.71M	246.63M	224.43M	-7.56M	0.00	0.00	0.00	70.48M	65.00M	0.00	252.46M	0.00	0.00	0.00	0.00
EBITDA Ratio	0.00%	57.79%	50.96%	34.02%	41.42%	59.32%	59.22%	57.74%	57.61%	56.07%	58.21%	57.62%	58.90%	64.23%	4.25%	100.22%	116.84%	109.00%	93.01%	82.81%	68.10%	78.72%	558.72%
Operating Income	242.80M	288.74M	227.12M	127.55M	147.09M	203.07M	291.15M	271.04M	258.71M	246.63M	224.43M	232.67M	248.53M	259.40M	263.15M	277.57M	276.87M	259.43M	252.46M	202.32M	161.32M	99.05M	119.69M
Operating Income Ratio	53.79%	57.14%	50.16%	33.13%	40.66%	56.51%	87.20%	86.33%	84.80%	88.06%	86.26%	89.16%	99.88%	107.78%	122.68%	137.22%	149.28%	132.04%	119.84%	105.64%	104.96%	71.66%	517.32%
Total Other Income/Expenses	-67.02M	-48.16M	-46.65M	-44.55M	-37.88M	-36.68M	-35.35M	-35.87M	-37.94M	-37.05M	-30.76M	-7.56M	-1.11M	-1.70M	-254.14M	-2.29M	4.94M	-1.48M	-26.87M	-133.74M	-135.56M	-62.72M	-84.52M
Income Before Tax	175.78M	240.11M	227.12M	127.55M	147.09M	143.92M	140.48M	124.78M	120.16M	105.42M	105.90M	96.12M	77.19M	66.27M	-114.82M	56.58M	50.87M	76.89M	85.90M	68.58M	25.77M	36.33M	35.16M
Income Before Tax Ratio	38.94%	47.51%	50.16%	33.13%	40.66%	40.05%	42.07%	39.74%	39.38%	37.64%	40.71%	36.84%	31.02%	27.53%	-53.53%	27.97%	27.43%	39.13%	40.77%	35.81%	16.76%	26.28%	151.98%
Income Tax Expense	47.38M	64.46M	59.20M	30.60M	34.46M	25.53M	46.53M	36.98M	36.44M	31.79M	35.37M	28.86M	19.84M	16.56M	7.01M	14.94M	13.49M	23.20M	27.40M	19.27M	7.02M	9.23M	11.08M
Net Income	128.40M	175.65M	167.92M	96.95M	112.63M	118.39M	93.95M	87.80M	83.72M	73.63M	70.53M	67.27M	57.34M	49.71M	-121.82M	41.64M	37.38M	53.69M	58.50M	49.30M	18.74M	26.58M	24.08M
Net Income Ratio	28.45%	34.76%	37.08%	25.18%	31.13%	32.94%	28.14%	27.97%	27.44%	26.29%	27.11%	25.78%	23.05%	20.65%	-56.79%	20.59%	20.15%	27.32%	27.77%	25.74%	12.19%	19.23%	104.08%
EPS	1.72	2.35	2.20	1.39	1.74	1.82	1.46	1.38	1.33	1.22	1.23	1.18	1.01	0.88	-2.16	0.74	0.63	0.88	0.89	0.80	0.32	0.43	0.39
EPS Diluted	1.71	2.35	2.19	1.39	1.74	1.82	1.45	1.38	1.33	1.22	1.23	1.18	1.01	0.88	-2.16	0.74	0.63	0.87	0.88	0.80	0.32	0.43	0.39
Weighted Avg Shares Out	74.84M	74.70M	76.47M	69.55M	64.60M	64.94M	64.38M	63.64M	62.95M	60.39M	57.24M	57.15M	56.86M	56.57M	56.28M	56.03M	59.07M	60.97M	66.08M	61.58M	57.84M	61.54M	61.54M
Weighted Avg Shares Out (Dil)	74.87M	74.78M	76.56M	69.63M	64.73M	65.10M	64.58M	63.85M	63.11M	60.56M	57.36M	57.20M	56.87M	56.57M	56.28M	56.03M	59.07M	61.70M	66.84M	61.93M	57.97M	61.54M	61.54M

Provident Financial (PFS) Reports Q3 Earnings: What Key Metrics Have to Say

October 26, 2023zacks.com

The headline numbers for Provident Financial (PFS) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Provident Financial (PFS) Q3 Earnings Surpass Estimates

October 26, 2023zacks.com

Provident Financial (PFS) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.58 per share a year ago.

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October 26, 2023globenewswire.com

ISELIN, N.J., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (the “Company”) reported net income of $28.5 million, or $0.38 per basic and diluted share for the three months ended September 30, 2023, compared to $32.0 million,...

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October 2, 2023globenewswire.com

ISELIN, N.J., Oct. 02, 2023 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE: PFS) announced that it expects to release financial results for the quarter ended September 30, 2023 on Thursday, October 26, 2023 after market close. A copy of...