IMHO Provident will be an excellent investment. After reading the filing It is hard to come to a conclusion as to management's direction. Is this a setup for a nice future buyout (and if so by whom?) or are they looking to merge with another bank to compete with let's say - a commerce bank.
I guess it is way too early to tell. I still think you can't lose - they are a very solid institution.
PFS on the NYSE - Provident updated SEC S-1/A
# of shares still looks the same.
FRB (Federal Reserve Board) comment period ended on 9/20/02.
do not know what changed.
Regarding the recent post by bigcee052...what a class act! Sorry to say I live in the same town...please don't hold it against me. Thank goodness for the "ignore this user list"
Depending on conditions, I'm planning on a major investment in Provident.
I hope I don,t make anybody go over the edge by mentioning another NJ bank, but Ive been considering opening an account in The Trust Company Bank...I believe they are head-quartered in Jersey City. Any thoughts on this one?
It was good to see college football on Saturday. All the strike talk regarding baseball has soured me for the season.
CorvetteKid, You are correct again! What is wrong with talking about a comparable thrift in New Jersey on the HCBK Board? Provident and HCBK are both large N.J.thrifts that either have gone through a recent (partial)conversion (HCBK) or are currently converting (Provident). Isn't that one of the ways we can all learn about something? Why have pure tunnel vision looking at HCBK and barring any discussion of a comparable thrift in the same geographical area. Additionally, of course those that are interested in Provident have no other place to post to similarly interested folks. If you do not want to read about Provident you can always skip the message.
The HCBK hypsters got nervous when I posted information about the bad loans, low dividend yield, accounting irregularities and litigation problems. They have been going on about PROV ever since, hoping to hide the sad truth about this stock. It appears from technical analysis that the capitulation phase is near. I recommend the few longs left dump their shares. Otherwise I will be borrowing them from you and shorting for the ride down below 10. See you below!