Provident Financial Posts 3Q EPS of $0.53
PFS sits 31% above its 52-week low of $17.705.
Summary
Provident Financial reported third-quarter EPS of $0.53, or $0.65 on a core basis, and net income of $69.2 million. That compares with the $0.60 reported for Q2, a sequential decline of about 12%. The Q2 print came with record net interest income but also a jump in non-performing loans to $136.9 million, driven by $81.8 million in senior housing bankruptcies, so credit quality is the number to check in the full release. The headline gives no revenue, provision, or net interest margin figures, so the earnings quality is not yet clear. The company also priced $175 million of 6.50% subordinated notes in August to repay existing debt, which adds interest expense this quarter.
At the time of this announcement, PFS was trading at $23.12 on NYSE in the Finance sector, with a market capitalization of approximately $3B. The 52-week trading range was $17.71 to $25.49. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.