The results confirm accelerating operational momentum with expanding margins and record fee income. The higher provision is manageable given robust loan growth and low charge-offs. Monitor NPL resolution on senior housing credits and margin trajectory in a declining rate environment. The stock may see modest upside on the beat and positive commentary.
Price Chart
Executive Summary
Provident Financial Services reported Q2 2026 EPS of $0.60, beating consensus of $0.59, and revenue of $234.7M slightly above $234.0M consensus. Record core pre-provision net revenue of $117.8M, net interest margin expansion to 3.48%, and 9% YoY EPS growth highlight strong operational momentum, partially offset by a higher provision for credit losses ($9.3M vs a recapture in Q1) driven by loan growth and specific reserves.
Key Financial Metrics
Key Facts
- EPS $0.60 vs consensus $0.59 (beat ~1.7%)
- Revenue $234.7M vs consensus $234.0M (beat ~0.3%)
- Net interest margin expanded to 3.48% from 3.36% YoY
- Record core pre-provision net revenue of $117.8M, up 18% YoY
- Non-performing loans declined to $136.9M (0.68%) from $142.9M (0.73%) QoQ
- Provision for credit losses increased to $9.3M from a $2.1M recapture in Q1
- Tangible book value per share grew 2% QoQ to $16.42, up 12% YoY
- Loan pipeline at record $3.17B with weighted average rate of 6.33%
Financial Impact
Modest EPS and revenue beat with strong underlying trends; record PPNR and margin expansion signal improving profitability.
Risk Factors
- Elevated non-performing loans from senior housing properties ($82.1M in bankruptcy-related loans)
- Higher provision for credit losses if credit conditions deteriorate
- Potential margin compression if deposit costs reprice slower than asset yields
- Seasonal municipal deposit outflows requiring increased borrowings
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-050914 |
| Document: pfs-20260729.htm | 0001628280-26-050914 |
| Document: 0001628280-26-050914-index-headers.html | 0001628280-26-050914 |
| Document: 0001628280-26-050914-index.html | 0001628280-26-050914 |
| Document: 0001628280-26-050914.txt | 0001628280-26-050914 |
| 8-K Data (Synthetic) | 0001628280-26-050914 |
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
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