Core Viewpoint - Provident Financial (PROV) has been upgraded to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on changes in a company's earnings picture, which is crucial for near-term stock price movements [2][4]. - An increase in earnings estimates typically leads to higher fair value calculations by institutional investors, resulting in stock price movements [4]. Provident Financial's Earnings Outlook - The Zacks Consensus Estimate for Provident Financial indicates an expected earnings per share of $1.05 for the fiscal year ending June 2025, reflecting a slight decrease of 0.9% from the previous year [8]. - Over the past three months, analysts have raised their earnings estimates for Provident Financial by 5% [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Provident Financial to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, indicating strong potential for near-term price increases [10].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [ ✓ ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 [ ]TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to _________________ Commission File Number 000-28304 PROVIDENT FINANCIAL HOLDINGS, INC. (Exact name of registrant as ...

Core Insights - Provident Financial reported a revenue of $9.52 million for the quarter ended September 2024, reflecting a year-over-year decline of 3.8% and a surprise of -2.26% compared to the Zacks Consensus Estimate of $9.74 million. The EPS for the same period was $0.28, up from $0.25 a year ago, resulting in an EPS surprise of +12.00% [1] Financial Performance Metrics - Net Interest Margin was reported at 2.8%, matching the average estimate by two analysts [3] - Efficiency ratio stood at 79.1%, higher than the average estimate of 76.2% by two analysts [3] - Total Non-Interest Income was $0.90 million, slightly below the average estimate of $0.93 million [3] - Net Interest Income was reported at $8.62 million, lower than the average estimate of $8.81 million [3] Stock Performance - Shares of Provident Financial have returned +7.7% over the past month, outperforming the Zacks S&P 500 composite's +2% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4]

Core Insights - Provident Financial (PROV) reported quarterly earnings of $0.28 per share, exceeding the Zacks Consensus Estimate of $0.25 per share, and showing an increase from $0.25 per share a year ago, resulting in an earnings surprise of 12% [1] - The company posted revenues of $9.52 million for the quarter ended September 2024, which was 2.26% below the Zacks Consensus Estimate and a decrease from $9.89 million year-over-year [2] - Provident Financial shares have increased approximately 22.9% year-to-date, outperforming the S&P 500's gain of 21.8% [3] Earnings Performance - Over the last four quarters, Provident Financial has surpassed consensus EPS estimates three times [2] - The current consensus EPS estimate for the upcoming quarter is $0.28 on revenues of $10.09 million, and for the current fiscal year, it is $1 on revenues of $39.19 million [7] Market Outlook - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call [3] - The estimate revisions trend for Provident Financial is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] - The Financial - Savings and Loan industry is currently in the top 20% of Zacks industries, suggesting a favorable outlook for stocks within this sector [8] Comparative Analysis - BankFinancial (BFIN), another company in the same industry, is expected to report quarterly earnings of $0.20 per share, reflecting a year-over-year increase of 5.3%, with revenues projected at $14.2 million, up 0.1% from the previous year [9]

Core Insights - The company reported a net income of $1.90 million for the quarter ended September 30, 2024, which is an 8% increase from $1.76 million in the same quarter last year, but a 3% decrease from the previous quarter [2][4] - The net interest margin for the quarter was 2.84%, up 10 basis points from the previous quarter but down 4 basis points from the same quarter last year [1][7] - Total deposits decreased by 3% to $863.9 million compared to the previous quarter [1][12] - Non-performing assets improved to 0.17% of total assets, down from 0.20% in the previous quarter [1][18] Financial Performance - Net interest income decreased by $523,000, or 6%, to $8.62 million compared to the same quarter last year, primarily due to a lower average balance of interest-earning assets [6][8] - Non-interest income increased by $148,000, or 20%, to $899,000 compared to the same period last year, but decreased by $568,000, or 39%, sequentially [21][22] - Non-interest expenses rose by $667,000, or 10%, to $7.52 million compared to the same quarter last year, mainly due to higher salaries and employee benefits [22][23] Credit Quality - The company recorded a recovery of credit losses of $697,000, contrasting with a provision for credit losses of $545,000 in the same period last year [17] - The allowance for credit losses decreased to $6.3 million, or 0.61% of gross loans held for investment, down from $7.1 million, or 0.67%, in the previous quarter [20] Capital Management - The company repurchased 93,641 shares at an average cost of $14.26 per share during the quarter, with 95,475 shares remaining available for future purchase [25] - The efficiency ratio increased to 79.06% from 69.32% in the same quarter last year, reflecting higher non-interest expenses and lower net interest income [23][36] Market Position - The company operates 13 retail/business banking offices in Riverside County and San Bernardino County [25] - The average yield on loans receivable increased by 43 basis points to 4.97% compared to the same quarter last year [8][34]

RIVERSIDE, Calif., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Provident Financial Holdings, Inc. ("Company"), NASDAQ GS: PROV, the holding company for Provident Savings Bank, F.S.B., today announced that the Company's Board of Directors authorized an extension of the September 28, 2023 Stock Repurchase Plan ("Plan") for a period of one year or until completed, whichever occurs first. There are 99,968 shares currently available to be purchased under the Plan. The Corporation will purchase the shares from time to tim ...

PROVIDENT FINANCIAL HOLDINGS REPORTS FOURTH QUARTER AND FISCAL YEAR 2024 RESULTS Net Income of $1.95 Million in the June 2024 Quarter Exhibit 99.1 3756 Central Avenue NEWS RELEASE Riverside, CA 92506 (951) 686-6060 Net Interest Margin of 2.74% in the June 2024 Quarter Loans Held for Investment of $1.05 Billion at June 30, 2024, Down 2% from June 30, 2023 Total Deposits of $888.3 Million at June 30, 2024, Down 7% from June 30, 2023 Non-Performing Assets to Total Assets Ratio of 0.20% at June 30, 2024 Non-Int ...

Core Points - Provident Financial Holdings, Inc. announced a quarterly cash dividend of $0.14 per share [1] - Shareholders of common stock as of August 15, 2024, will be eligible for the dividend [1] - The dividend payment is scheduled for September 5, 2024 [1] Summary by Category Dividend Announcement - The Board of Directors declared a cash dividend of $0.14 per share [1] - The record date for shareholders is August 15, 2024 [1] - Payment date for the dividend is set for September 5, 2024 [1]

Core Viewpoint - Provident Financial Holdings, Inc. will announce its earnings for the fourth quarter and fiscal year 2024 on July 29, 2024, prior to market opening [1] Group 1: Earnings Announcement - The earnings release will be distributed before the market opens on July 29, 2024 [1] - The company will host a conference call for institutional investors and bank analysts on July 30, 2024, at 9:00 a.m. Pacific Time to discuss the financial results [1] Group 2: Conference Call Details - Access to the conference call can be obtained by dialing 1-800-715-9871 and referencing Conference ID number 7361828 [1] - An audio replay of the conference call will be available until August 6, 2024, by dialing 1-800-770-2030 and referencing the same Conference ID number [1]

Financial Performance - Net income for the quarter ended March 31, 2024, was $1,495 thousand, down 35.6% from $2,323 thousand in the same quarter of 2023[13]. - Basic earnings per share for the quarter ended March 31, 2024, was $0.22, down from $0.33 in the same quarter of 2023, a decrease of 33.3%[13]. - Net income for the nine months ended March 31, 2024, was $5,398 million, compared to $6,784 million for the same period in 2023, reflecting a decrease of approximately 20.5%[24]. - Total comprehensive income for the quarter ended March 31, 2024, was $1,494 million, down from $2,331 million in the same quarter of 2023[15]. - Total non-interest income for the nine months ended March 31, 2024, was $2,474 million, a decrease of 16% from $2,940 million in the same period of 2023[13]. Asset and Liability Management - Total assets decreased from $1,332,948 thousand as of June 30, 2023, to $1,290,047 thousand as of March 31, 2024, representing a decline of approximately 3.2%[10]. - Total deposits decreased from $950,571 thousand as of June 30, 2023, to $908,122 thousand as of March 31, 2024, a decrease of 4.5%[10]. - Cash and cash equivalents decreased from $65,849 thousand as of June 30, 2023, to $51,731 thousand as of March 31, 2024, a decline of 21.4%[10]. - The corporation's total stockholders' equity slightly decreased from $129,687,000 as of June 30, 2023, to $129,506,000 as of March 31, 2024, reflecting a decrease of about 0.14%[10]. - The total loans held for investment, net of fair value adjustments, was $1,065.8 million as of March 31, 2024, a decrease from $1,077.6 million as of June 30, 2023[56]. Income and Expense Analysis - Total interest income increased to $13,807 thousand for the quarter ended March 31, 2024, compared to $12,008 thousand for the same quarter in 2023, reflecting a growth of 14.9%[13]. - Total non-interest income decreased to $848 thousand for the quarter ended March 31, 2024, from $981 thousand in the same quarter of 2023, a decline of 13.5%[13]. - Total non-interest expense increased to $7,168 thousand for the quarter ended March 31, 2024, compared to $6,924 thousand for the same quarter in 2023, an increase of 3.5%[13]. - Total interest expense for the quarter ended March 31, 2024, was $5,248 million, an increase of 101% from $2,607 million in the same quarter of 2023[13]. - The provision for credit losses for the quarter was $108,000, compared to a recovery of $35,000 in the same quarter of the previous year[84]. Credit Losses and Allowance Management - The allowance for credit losses (ACL) on loans increased to $7,108,000 as of March 31, 2024, up from $6,001,000 in the previous year[84]. - The ACL on loans as a percentage of gross loans held for investment rose to 0.67% for the quarter ended March 31, 2024, compared to 0.56% for the same period in 2023[84]. - The Corporation recognized a one-time increase of $1.2 million to its Allowance for Credit Losses (ACL) upon implementing CECL on July 1, 2023[71]. - The provision for credit losses included a recovery of $136,000 for single-family loans, while multi-family loans experienced a charge of $41,000[88]. - The total allowance for credit losses (ACL) at the end of the period increased to $7,108,000 from $7,000,000 at the beginning of the period, reflecting a provision for credit losses of $108,000[88]. Investment Securities and Fair Value - Total investment securities as of March 31, 2024, were valued at $137.924 million, with an unrealized loss of $15.8 million, compared to an unrealized loss of $18.9 million as of June 30, 2023[46]. - The fair value of loans held for investment at fair value is $1,054,000 as of March 31, 2024, reflecting management's estimates of specific credit risk attributes[124]. - The total fair value measurement using significant other unobservable inputs for the quarter ended March 31, 2023, was $1,458,000[125]. - The fair value of investment securities available for sale increased from $2,155,000 on June 30, 2023, to $1,935,000 on March 31, 2024[123]. - The total gains or losses included in earnings for Level 3 assets for the quarter ended March 31, 2024, show a loss of $28,000[124]. Dividends and Stock Repurchase - The company paid cash dividends of $0.14 per share in the quarter ended March 31, 2024[17]. - The Corporation's stock repurchase plan authorized the purchase of up to 350,353 shares as of September 28, 2023, with 237,592 shares remaining available for purchase as of March 31, 2024[155]. - During the quarter ended March 31, 2024, the Corporation repurchased 50,051 shares at a weighted average cost of $13.99 per share[155]. - A quarterly cash dividend of $0.14 per share was declared on April 25, 2024, payable on June 6, 2024[156]. - The average cost per share for stock repurchases over the nine months ended March 31, 2024, was $13.06[155].