Provident Finl Hldgs Inc Stock Price, News & Analysis

Provident Financial Holdings, Inc. (NASDAQ: PROV) reported a net income of $2.32 million for the third quarter of fiscal 2023, up 37% from $1.70 million year-over-year. The earnings per share were $0.33, consistent with the previous quarter. The company's net interest margin improved by 39 basis points to 3.00%, driven by higher yields on loans and a $1.86 million increase in net interest income. Loans held for investment rose 15% to $1.08 billion, while total deposits increased 3% to $983 million. Non-performing assets remained low at 0.07% of total assets. However, a 2% decrease in sequential earnings reflects a rise in non-interest expenses. Overall, the company maintains a strong financial foundation.

Provident Financial Holdings, Inc. (Nasdaq GS: PROV) announced its plan to release earnings for the third quarter of fiscal 2023 before the market opens on April 26, 2023. The company will provide insights during a conference call for institutional investors and bank analysts on April 27, 2023, at 9:00 a.m. (Pacific). Participants can join the call by dialing 1-877-692-8955 with access code 3665390. An audio replay will be available until May 4, 2023.

Provident Financial Holdings, Inc. (NASDAQ: PROV) reported a net income of $2.37 million for the quarter ended December 31, 2022, a 5% increase from the previous year. This represents earnings of $0.33 per diluted share, up from $0.30 a year prior. The growth was driven by a $1.72 million rise in net interest income, partially offset by a change in the provision for loan losses. Loans held for investment increased 11% to $1.04 billion, while total deposits decreased slightly by 1% to $945.3 million. The company’s net interest margin expanded by 41 basis points to 3.05%. Strong asset quality is highlighted by a low non-performing assets ratio of 0.08%.

Provident Financial Holdings, Inc. (NASDAQ: PROV) declared a quarterly cash dividend of $0.14 per share. Shareholders on record as of February 14, 2023, will receive this dividend on March 7, 2023. The announcement reflects the company's ongoing commitment to return value to its shareholders.

This decision highlights the company's financial stability and confidence in future performance, despite the potential risks and uncertainties associated with the business environment, such as interest rates and competitive conditions.

Provident Financial Holdings, Inc. (Nasdaq GS: PROV) announced it will release its second quarter earnings for fiscal 2023 before the market opens on January 27, 2023. A conference call for institutional investors and bank analysts will be held on January 30, 2023, at 9:00 a.m. Pacific Time to discuss the financial results. Interested parties can participate by calling 1-877-336-4436 and using access code 2633623. An audio replay will be available until February 6, 2023, at 1-866-207-1041 with access code 2446007.