Non-Interest Income and Expense For the six months ended June 30, 2024, non-interest income totaled $43.1 million, an increase of $1.5 million, compared to the same period in 2023. Fee income increased $2.4 million to $14.6 million for the six months ended June 30, 2024, compared to the same period in 2023, primarily due to increases in deposit fee income, debit card related fee income and commercial loan prepayment fees, resulting from the Lakeland merger. BOLI income increased $2.1 million to $5.1 million ...

Provident Financial (PFS) shares rallied 5.7% in the last trading session to close at $15.95. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 10.7% gain over the past four weeks. Provident Financial witness a strong price increase driven by optimism surrounding the company's effort to strengthen its Healthcare Lending team. The company intends to expand sales efforts for Middle Market Healthcare Services with ...

ISELIN, N.J., July 01, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) announced that it expects to release financial results for the quarter ended June 30, 2024 on Thursday, July 25, 2024 after market close. A copy of the earnings release will be immediately available on the Company's website, www.Provident.Bank, by going to Investor Relations and clicking on Press Releases. Representatives of the Company will hold a conference call for investors on July 26, 2024 at 10:00 a.m. (ET) t ...

Core Viewpoint - Provident Financial Services (PFS) is positioned for growth due to the acquisition of Lakeland Bancorp, with strong loan demand, a solid balance sheet, and high interest rates supporting its financials [1] Group 1: Acquisition and Growth Potential - The merger with Lakeland Bancorp has created a super-community bank, combining two complementary banking platforms in New Jersey [2] - The pro-forma combined company will have $24.5 billion in assets, $18.8 billion in loans, $18.6 billion in deposits, and total stockholders' equity of $2.3 billion, with 140 branches across New Jersey and parts of New York and Pennsylvania [3] Group 2: Earnings and Revenue Growth - Earnings growth has shown a CAGR of 5.7% over the last three to five years, with a projected decline of 5.2% in 2024, followed by a rebound of 33.8% in 2025 [5] - Total revenues have a CAGR of 5.9% from 2018 to 2023, driven by solid loan demand and high rates, with projections of a 40.3% increase this year and 24.6% in 2025 [6] Group 3: Capital Distribution and Valuation - Provident Financial has a consistent quarterly dividend of 24 cents per share, resulting in a dividend yield of 6.4% based on a closing price of $15.01 [7] - The stock appears undervalued with a price-to-earnings (F1) ratio of 9.18 and a price-to-book ratio of 0.67, both below industry averages [8] Group 4: Investment Metrics - The company has a Value Score of B, indicating it is trading at a discount, and stocks with a Style Score of A or B combined with a Zacks Rank of 1 or 2 offer the best upside potential [9]

Title: Outcomes of advanced/metastatic breast cancer (aMBC) treated with Bria-IMT™, an allogeneic whole cell immunotherapy. Session Type and Title: Rapid Oral Abstract – Breast Cancer – Metastatic Phase 2 clinical data of the Bria-IMT™ regimen in 54 advanced metastatic breast cancer patients who failed multiple prior treatments including ADCs and immune check point inhibitors (CPIs) (median of 6 prior treatments) are presented. PHILADELPHIA and VANCOUVER, British Columbia, May 24, 2024 (GLOBE NEWSWIRE) -- B ...

Provident Financial Services, Inc. (PFS) has completed its previously announced merger with Lakeland Bancorp, Inc. The acquisition combines two of New Jersey's complementary banking platforms to form a super- community bank. The system conversions are scheduled for early September 2024. Until then, the companies' retail banking networks will operate separately under their respective brands. Under the terms of the deal at the time of announcement, Lakeland Bancorp's shareholders have the right to receive 0.8 ...

ISELIN, N.J., May 13, 2024 (GLOBE NEWSWIRE) -- Provident Financial Services, Inc. (NYSE:PFS) (the "Company"), the holding company for Provident Bank (the "Bank"), today announced the completion of its offering and sale of $225 million of its 9.00% fixed-to-floating rate subordinated notes due 2034 (the "Notes") in a registered public offering (the "Offering"). The Notes were sold at par, resulting in net proceeds, after discounts and estimated offering expenses, of approximately $219.3 million. The purpose ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-31566 PROVIDENT FINANCIAL SERVICES, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 42-1547151 (State or Other Jurisd ...

Provident Financial Services, Inc. (NYSE:PFS) Q1 2024 Earnings Conference Call April 19, 2024 10:00 AM ET Company Participants Adriano Duarte - Senior Vice President And Investor Relations Officer Tony Labozzetta - President and Chief Executive Officer Tom Lyons - Senior Executive Vice President and Chief Financial Officer Conference Call Participants Mark Fitzgibbon - Piper Sandler Bill Young - RBC Capital Markets Manuel Navas - D.A. Davidson Tim Switzer - KBW Operator Thank you for standing by. My name is ...

Provident Financial Services, Inc. Announces First Quarter Earnings and Declares Quarterly Cash Dividend ISELIN, NJ, April 18, 2024 - Provident Financial Services, Inc. (NYSE:PFS) (the "Company") reported net income of $32.1 million, or $0.43 per basic and diluted share for the three months ended March 31, 2024, compared to $27.3 million, or $0.36 per basic and diluted share, for the three months ended December 31, 2023 and $40.5 million, or $0.54 per basic and diluted share, for the three months ended Marc ...