JERSEY CITY, N.J. (AP) _ Provident Financial Services Inc. (PFS) on Friday reported first-quarter net income of $48.6 million.

The Jersey City, New Jersey-based company said it had profit of 63 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The holding company for The Provident Bank posted revenue of $122.2 million in the period. Its adjusted revenue was $111.6 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $107.4 million.

Provident Financial shares have risen 34% since the beginning of the year. The stock has increased 49% 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

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