Stonegate Capital Partners Initiates Coverage on Provident Financial Services Inc (PFS)
September 12, 2025 4:19 PM EDT | Source: Reportable, Inc.
Dallas, Texas--(Newsfile Corp. - September 12, 2025) - Provident Financial Services Inc (NYSE: PFS): Stonegate Capital Partners initiates their coverage on Provident Financial Services Inc (NYSE: PFS). For 2Q25, Provident Financial Services reported net income of $72.0M, up from $64.0M in 1Q25. This equates to basic and diluted EPS of $0.55, compared to $0.49 in 1Q25 and a net loss of $11.5M in 2Q24. The sequential increase was driven by higher net interest income from new loan originations at favorable market rates and improved repricing on adjustable-rate loans, combined with lower non-interest expenses. This was partly offset by higher compensation expenses and lower average low-cost deposits. Management highlighted that this quarter delivered record revenue of $214.2M, supported by both volume growth and margin expansion, while maintaining strong credit quality.
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Key Takeaways:
- PFS delivered record revenue of $214.2M, supported by net interest income of $187.1M and non-interest income of $27.1M.
- Net income rose to $72.0M ($0.55/share), up from $64.0M in 1Q25 and a net loss in 2Q24.
- Commercial loan balances grew $319.3M in the quarter, while non-performing assets improved to just 0.44% of total assets.
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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.
Source: Stonegate, Inc.
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