The strong earnings and optimistic guidance support the stock near term. However, monitor the resolution of the four senior housing loans in bankruptcy; if charge-offs materialize, credit concerns could weigh on shares. The buyback program provides a floor at current levels.
Price Chart
Executive Summary
Provident Financial reported strong Q1 2026 results with diluted EPS of $0.61, ROATCE of 16.58%, and revenue of $225.2 million, driven by net interest income growth of 7% YoY and record non-interest income. However, non-performing loans increased by $64.5 million due to four senior housing loans in bankruptcy, though management cites strong collateral. The company guided for 4-6% annualized loan and deposit growth in 2026 and a core NIM of 3.40-3.45%.
Key Facts
- Diluted EPS of $0.61 in Q1 2026, compared to $0.50 in Q1 2025
- Revenue of $225.2 million, up from $208.7 million YoY
- ROATCE of 16.58% vs 16.15% in Q1 2025
- PPNR growth of $12.9 million or 13.5% YoY
- Net interest income grew 7% YoY to $193.7 million
- Non-interest income of $31.5 million, a record
- Non-performing loans increased $64.5 million QoQ due to $82.1 million in senior housing loans in bankruptcy, with LTVs between 32.9% and 81.9%
- Net charge-off ratio of 0.06% annualized for Q1 2026
- Stock buybacks of 588,923 shares at average cost of $21.04
- Guidance: 4-6% annualized loan and deposit growth, NIM 3.40-3.45%, efficiency ratio ~51%
Financial Impact
Quarterly net income of $79.4 million, EPS $0.61, revenue $225.2 million
Risk Factors
- Credit deterioration from senior housing loan exposure (LTVs up to 81.9%)
- Potential net interest margin compression if rate cuts occur faster than expected
- CRE concentration risk (397.5% adjusted CRE concentration ratio)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-028648 |
| Document: pfs-20260429.htm | 0001628280-26-028648 |
| Document: 0001628280-26-028648-index-headers.html | 0001628280-26-028648 |
| Document: 0001628280-26-028648-index.html | 0001628280-26-028648 |
| Document: 0001628280-26-028648.txt | 0001628280-26-028648 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 5w ago | 424B5 | $23.57 $22.65 | ▼ −3.90% | ▼ −5.22% | $22.58 (−4.20%) |
Aug 20, 2026 6w ago | Press Release | $23.71 $22.93 | ▼ −3.29% | ▼ −2.76% | $22.58 (−4.77%) |
Aug 20, 2026 6w ago | 424B5 | $23.69 $23.06 | ▼ −2.66% | ▼ −2.66% | $22.58 (−4.69%) |
Aug 14, 2026 7w ago | 8-K | $24.64 $23.34 | ▼ −5.28% | ▼ −3.28% | $22.58 (−8.36%) |
Jul 30, 2026 9w ago | 8-K | $24.86 $23.56 | ▼ −5.23% | ▼ −9.19% | $22.58 (−9.17%) |
Jul 30, 2026 9w ago | 8-K | $24.86 $23.56 | ▼ −5.23% | ▼ −9.19% | $22.58 (−9.17%) |
Jul 29, 2026 9w ago | Press Release | $24.86 $23.56 | ▼ −5.23% | ▼ −9.19% | $22.58 (−9.17%) |
Jun 4, 2026 17w ago | 8-K | $22.34 $23.54 | ▲ +5.37% | ▲ +6.74% | $22.58 (+1.07%) |
May 26, 2026 18w ago | 8-K | $22.43 $23.53 | ▲ +4.88% | ▲ +6.83% | $22.58 (+0.67%) |
Apr 30, 2026 22w ago | 8-K | $22.14 $21.84 | ▼ −1.34% | ▼ −6.60% | $22.58 (+2.01%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access