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Provident Financial Holdings, Inc. Message Board

  • icdcweb icdcweb Mar 13, 2013 10:31 AM Flag

    First time buyer today

    I waited for a pullback to get in and took a long position today at $15.80. They upped the dividend and this was a $30 way back when and they are better positioned now then they were 5 years ago. I see no reason why we can't hit $22 + by years end.

    Sentiment: Buy

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    • $15.80 is 1.1x book. Not the cheapest but pretty reasonable. $22 by year end is definitely possible, but maybe a little aggressive. That would be 1.3x my expected BV of around $17. We'll see though. I was pretty happy to trim in January and reallocate capital. However if this was down below $15 I'd probably seriously think about adding again. It's tough to be too negative on a bank with an ROE above 10%. If nothing else you should see an annual 10% return.

    • well, i just liquidated my PROV position this morning. saw too much pull back YTD while market flourished. not a good relationship. i need to out perform a bull market and at least match a bear market and PROV stopped doing that for me. yield not attractive enough to make me willing to ride it out. did notice that the 3 analyists i follow thru my Ameritrade account all rate PROV as a buy tho. i will monitor PROV PPS and if i see a dip disproportionate to the DOW, i may buy back in. i have been in and out twice in last 2 years. so can't say good luck to you unless i get back in. lol.

      Sentiment: Sell

15.99-0.10(-0.62%)Mar 31 11:57 AMEDT