NasdaqGS:PROVBanks
Provident Financial Holdings (PROV) Stock Rises On Cleaner Credit And Stronger EPS
The market rewarded Provident Financial Holdings with a 3.5% pop to US$17.87 today, yet the real story sits in the bank’s profit engine rather than the share chart. Quarterly basic earnings per share of about US$0.35 and net income of US$2.18 million point to a cleaner, more efficient earnings run rate. At the same time, non performing loans fell below US$1 million, which takes some pressure off credit risk concerns. The question now is whether that mix of firmer profitability and calmer...