Stonegate Capital Partners Updates Coverage On Provident Financial Services Inc (PFS) 1Q26

2026-05-04 10:11:16

(MENAFN- Newsfile Corp) Stonegate Capital Partners Updates Coverage on Provident Financial Services Inc (PFS) 1Q26

May 04, 2026 9:42 AM EDT | Source: Reportable, Inc.

Dallas, Texas--(Newsfile Corp. - May 4, 2026) - Provident Financial Services, Inc. (NYSE: PFS): Stonegate Capital Partners Updates Coverage on Provident Financial Services, Inc. (NYSE: PFS). Provident Financial Services delivered a steady 1Q26, with the post-Lakeland profitability profile holding despite lower q/q EPS and a more visible credit watch item. Net income was $79.4M, or $0.61 diluted EPS, versus $83.4M, or $0.64, in 4Q25, while ROAA was 1.29%, Pre-provision net-revenue ROAA was 1.75%, and ROATCE was 16.58%. Revenue remained above $225M for the second consecutive quarter, as lower net interest income was offset by record noninterest income of $31.5M. In our view, the quarter supports the case that PFS can sustain a higher post-Lakeland profitability profile through core margin improvement, fee income contribution, and tangible book value growth, though the senior housing-related NPL increase is now the key item to monitor.

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Key Takeaways:

Loan growth setup improved, as payoffs normalized and the commercial pipeline reached a record $3.11B. PFS's post-Lakeland earnings power is holding, with core margin expansion and record fee income supporting profitability. Capital build remains a quiet positive, with TBV up 2.1% q/q and TCE improving to 8.55%.

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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, equity research and capital raising for public and private companies.

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