Provident Financial Holdings Should Trade At Single-Digit Multiples (NASDAQ:PROV)

Group 1 - The bank has not experienced growth for a long time and is primarily exposed to residential mortgages, with a roughly equal split between single-family and multi-family properties in Southern California [1] - The investment strategy focuses on long-only investments, evaluating companies from an operational and buy-and-hold perspective, rather than market-driven dynamics [1] - The articles emphasize the importance of understanding the long-term earnings potential of companies and the competitive dynamics within their industries [1] Group 2 - The investment philosophy suggests that only a small fraction of companies should be considered a buy at any given time, with most recommendations being holds [1] - Hold articles are intended to provide valuable information for future investors and introduce a healthy skepticism in a generally bullish market [1]