Provident Financial Services Q1 Profit Declines

(RTTNews) - Provident Financial Services Inc. (PFS) posted first-quarter net income of $17.0 million or $0.30 per share, compared to $17.8 million or $0.31 per share in the comparable quarter last year.

On average, six analysts polled by Thomson Reuters expected the company to earn $0.30 per share. Analysts' estimates typically exclude special items.

Net-interest income for the latest first quarter was $55.2 million, up 18.4% from $53.9 million in the prior year quarter, while total non-interest income declined to $8.1 million from $9.9 million in the previous year period.

The Company's Board of Directors declared a quarterly cash dividend of $0.15 per common share payable on May 30, 2014, to stockholders of record as of the close of business on May 15, 2014.