SA News • Fri, Oct. 31
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What Is Provident Financial Worth? Not More Than Book Value
- Provident is selling at tangible book value.
- TTM earnings yield of 4.6%.
- TTM ROE of 4.5%.
- Poor efficiency ratio (83%) and a declining mortgage origination business bode poorly for PROV.
- Share buy backs will lower tangible equity -- we would expect the share price to track tangible equity and therefore decline commensurate with buy backs.
Fri, Oct. 31, 8:42 AM
Wed, Oct. 29, 6:02 AM| Comment!
Wed, Aug. 6, 9:47 AM
- The struggling stock of Provident Financial (PROV +2.6%) is higher in early trades after Raymond James pulls its Underperform rating following last week's FQ4 earnings beat.
- The stock's off nearly 3% YTD and 19% Y/Y.
- Previously: Provident Financial beats by $0.05, beats on revenue
Wed, Jul. 30, 6:09 AM| Comment!
Wed, Jul. 23, 7:37 AM| Comment!
Thu, May. 8, 12:30 PM
- Jefferies upgrades AmREIT (AMRE +1.5%) to Buy, and sets a $19 PT.
- First Financial Bankshares (FFIN +0.6%) is upgraded by Macquarie to Neutral.
- PennyMac Financial Services (PFSI +5.8%) is upgraded to Buy at Compass Point with $18.50 PT after Q1 results yesterday.
- Raymond James ups Main Street Capital (MAIN +0.3%) to Outperform with $34PT ahead of its quarterly earnings.
- CommonWealth REIT (CWH +1.2%) is downgraded to Sell by Stifel Nicolaus. Earlier: CommonWealth REIT beats by $0.01, beats on revenue
- UBS downgrades Deusteche Bank (DB +1.4%) to Neutral.
- Provident Financial Holdings (PROV -0.1%) is downgraded to Underperform by Raymond James.
- Evercore Partners downgrades Zion Bancorp (ZION +1.4%) to Equal Weight with $28 PT.
- Fidelity & Guaranty Life (FGL +0.3%) is cut to Neutral at Credit Suisse
Thu, May. 1, 10:43 AM
- Flushing Financial (FFIC +1.8%) is upgraded to Buy at Guggenheim.
- BofA Merrill Lynch upgrades National Bank of Greece (NBG +1.3%) to Neutral.
- Barclays (BCS +1.3%) is upgraded to Buy amid its plan to set up a “bad bank”.
- HSBC upgrades ING Groep (ING +0.1%) to Neutral.
- Morgan Stanley upgrades Synovus Financial (SNV +0.5%) to Equal Weight with a $3.30 PT.
- Provident Financial Holdings (PROV +0.5%) is upgraded to Buy at Sandler O'Neill after posting Q1 results.
Tue, Apr. 29, 6:06 AM
Thu, Jan. 30, 6:09 AM
- Provident Financial Holdings, Inc. (PROV): Q3 EPS of $0.16 misses by $0.01.
Oct. 29, 2013, 6:18 AM
Jul. 30, 2013, 6:21 AM
May. 1, 2013, 6:26 AM
Jan. 24, 2013, 7:40 AM
Jan. 24, 2013, 6:47 AM
Jan. 24, 2013, 6:08 AM
Oct. 31, 2012, 5:45 AM
PROV vs. ETF Alternatives
Provident Financial Holdings Inc is engaged in providing community banking & mortgage banking services. It accepts deposits, offers banking services, and provides multi-family, commercial real estate, commercial business, consumer & other mortgage loans.
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