Provident Finl Hldgs Inc Stock Price, News & Analysis

Provident Financial Holdings, Inc. (NASDAQ: PROV) reported a net income of $2.67 million for the first quarter of fiscal 2022, marking an 80% increase from $1.49 million in the same quarter last year. Loans held for investment rose 1% to $859 million, while total deposits increased 2% to $956.7 million. The company experienced improved asset quality with a recovery from the allowance for loan losses amounting to $339,000. However, net interest income declined by 3% to $7.89 million, and diluted earnings per share decreased by 20% from the previous quarter.

Provident Financial Holdings, Inc. (Nasdaq GS: PROV) will announce its earnings for Q1 fiscal 2022 on October 26, 2021, before market open. A conference call for investors and analysts is scheduled for October 27, 2021, at 9:00 a.m. Pacific Time to discuss these financial results. Interested parties can join the call by dialing 1-877-226-8163 with access code 4589704. An audio replay will be available until November 3, 2021. The announcement indicates ongoing communication with stakeholders and highlights a structured approach to financial reporting.

Provident Financial Holdings (NASDAQ: PROV) reported a net income of $3.34 million for the quarter ended June 30, 2021, significantly up from $1.58 million year-over-year. Earnings per diluted share rose to $0.44, a 111% increase. Total deposits increased by 5% to $938 million, while loans held for investment rose by 1% to $851 million. The company experienced an improved asset quality with a recovery from loan loss provisions amounting to $767,000. However, net interest income decreased by 11%, reflecting lower margins in a challenging interest rate environment.

Provident Financial Holdings, the parent company of Provident Savings Bank, has donated over $750,000 to local non-profits through its Community Partnership Program since 2006. In 2020, the bank contributed more than $49,000 to various organizations in Riverside and San Bernardino Counties. This initiative allows participating non-profits to link their ID number to bank customers, enhancing their donation potential. With approximately $1.2 billion in assets, Provident Bank remains the largest independent community bank in Riverside County.

Provident Financial Holdings announced a quarterly cash dividend of $0.14 per share. Shareholders on record by the close of business on August 12, 2021 will receive this dividend, which is payable on September 2, 2021. This declaration underlines the company's commitment to returning value to shareholders despite a challenging business environment, influenced by factors such as interest rates and regulatory changes.

Provident Financial Holdings, Inc. (Nasdaq: PROV) announced the release of its fourth-quarter earnings for fiscal 2021 on July 28, 2021, at 3:00 a.m. Pacific Time. A conference call for institutional investors and analysts will follow on July 29, 2021, at 9:00 a.m. Pacific Time, to discuss the financial results. Participants can access the call by dialing 1-877-692-8955 with the access code 5497888. An audio replay will be available until August 5, 2021. This upcoming earnings announcement and conference call are significant milestones for the company's ongoing financial transparency.

Provident Financial Holdings, Inc. (NASDAQ: PROV) has extended its stock repurchase plan for one year or until completed, as of April 27, 2021. The Board of Directors authorized the repurchase of 317,108 shares, which will be acquired through open market transactions or private negotiations based on market conditions and available cash. This move aims to bolster shareholder value amidst ongoing financial assessments.

Provident Financial Holdings, Inc. (NASDAQ GS: PROV) announced a quarterly cash dividend of $0.14 per share, with shareholders entitled to receive the dividend if they own stock by the close of business on May 18, 2021. The dividend will be paid on June 8, 2021. This decision reflects the company’s commitment to returning value to its shareholders amidst a stable operating environment.

Provident Financial Holdings reported a net income of $1.56 million for Q3 of fiscal 2021, translating to $0.21 per diluted share. Compared to $1.14 million a year ago, earnings increased due to improved loan loss provisions and reduced non-interest expenses, despite a decline in net interest income of 16%. Total loans decreased by 9% to $843.4 million, while total deposits rose by 5% to $933.8 million. The company maintained a healthy return on assets of 0.53% and return on equity of 4.99%.