Provident Financial Services Q2 Earnings Review, EPS Slightly Better Than Expected

Provident Financial Services, Inc. (NYSE:PFS) reported its Q2 results, with EPS of $0.53 coming in slightly better than the Street estimate of $0.52.

According to the analysts at RBC Capital, the company’s performance continues to be very consistent and solid, and they were encouraged by the momentum across the business. Fundamental trends were highlighted by stronger loan growth, better margin expansion, and continued stability in credit metrics.

The analysts believe the momentum in growth can continue over the next couple of quarters, and they continue to view the company as a high-quality franchise that is well positioned to benefit from a favorable banking environment in 2022.