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Provident Financial: 4Q Earnings Snapshot

JERSEY CITY, N.J. (AP) _ Provident Financial Services Inc. (PFS) on Friday reported fourth-quarter net income of $35.8 million.

The Jersey City, New Jersey-based company said it had net income of 55 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The holding company for The Provident Bank posted revenue of $109.5 million in the period. Its adjusted revenue was $92.9 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $89.7 million.

For the year, the company reported profit of $118.4 million, or $1.82 per share. Revenue was reported as $359.4 million.

Provident Financial shares have risen slightly more than 2 percent since the beginning of the year. The stock has decreased 6 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFS at https://www.zacks.com/ap/PFS