Quarterly ResultJul 30, 2026, 11:58 AM
Provident Financial Services Q2 EPS $0.61; Core ROAA 1.27%
AI Summary
Provident Financial Services reported strong second-quarter 2026 results, with core diluted EPS of $0.61, core ROAA of 1.27%, and core ROATCE of 16.22%. The company achieved an 18.3% increase in pre-provision net revenue (PPNR) year-over-year, driven by 8% growth in net interest income and record non-interest income. Loan growth remained robust, with total commercial loans increasing 9.9% annualized, and capital ratios stayed strong, with TBV growing 12% year-over-year.
Key Highlights
- Core Diluted EPS was $0.61 for Q2 2026.
- Core Return on Average Assets (ROAA) reached 1.27%.
- Core Return on Average Tangible Common Equity (ROATCE) was 16.22%.
- Net interest income grew 8% year-over-year.
- Total commercial loans increased 9.9% quarter-over-quarter annualized.
- Total loan pipeline reached $3.17 billion with a 6.33% weighted average rate.
- Tangible Book Value (TBV) grew 2% QoQ to $16.42 and 12% YoY.
- The company repurchased 614,722 shares at an average cost of $21.09 per share.
Price Impact
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