Press coverage about Provident Financial Holdings (NASDAQ:PROV) has trended somewhat positive on Friday, Accern Sentiment reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Provident Financial Holdings earned a news sentiment score of 0.09 on Accern’s scale. Accern also assigned media headlines about the financial services provider an impact score of 47.0771969151072 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Provident Financial Holdings (NASDAQ:PROV) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.06). The company had revenue of $15.86 million for the quarter, compared to analyst estimates of $18.20 million. Provident Financial Holdings had a return on equity of 3.96% and a net margin of 7.11%. During the same quarter last year, the company earned $0.31 EPS.
Provident Financial Holdings declared that its Board of Directors has initiated a stock buyback program on Monday, June 19th that authorizes the company to buyback 390,000 outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
Provident Financial Holdings Company Profile
Provident Financial Holdings, Inc is the holding company of Provident Savings Bank, F.S.B. (the Bank). The Bank is a federally chartered stock savings bank. The Company operates through two segments: Provident Bank and Provident Bank Mortgage (PBM). The Bank’s operations primarily consist of accepting deposits from customers within the communities surrounding the Bank’s full service offices and investing those funds in single-family loans, multi-family loans, commercial real estate loans, construction loans, commercial business loans, consumer loans and other mortgage loans.
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