Riverside, California is the 12th largest city in California, located 60 miles east of Hollywood. The city boasts over 300,000 residents and is the home to Provident Financial (PROV), an under-followed holding company operating 15 Provident Savings Bank F.S.B. locations with mortgage lending focus.
The major catalyst supporting Provident over the coming year is mortgage demand tied to California's improving job market.
Stronger GDP is driving employment and income growth for the Golden State
California's gross domestic product has moved back up toward pre-recession highs, helping boost demand for commercial and industrial real estate.
The increase in economic activity is welcome news given California was one of the hardest hit during the recession. At its...
Only subscribers can access this article, which is part of the PRO research library covering 3,587 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: