Provident Financial Holdings, Inc. (NASDAQ:PROV) Shareholders Set to Receive $0.14 Quarterly Dividend

Key Points

• Provident Financial declared a quarterly dividend of $0.14 per share, payable December 3 to shareholders of record on November 12. The annualized dividend is $0.56 per share, representing a 3.1% yield.
• The dividend appears well covered, with a current payout ratio of 39.2% and an expected future payout ratio of 44.1% based on projected earnings.
• Provident Financial recently exceeded quarterly earnings expectations, reporting $0.35 EPS versus the $0.29 consensus estimate. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $18.00.

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Thursday, November 12th will be given a dividend of $0.14 per share by the financial services provider on Thursday, December 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, November 12th.

Provident Financial has a payout ratio of 39.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Provident Financial to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 44.1%.

Provident Financial Stock Performance

PROV stock opened at $18.19 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. Provident Financial has a 1 year low of $14.95 and a 1 year high of $18.99. The company has a market cap of $112.78 million, a P/E ratio of 17.66 and a beta of 0.32. The stock's fifty day moving average price is $18.32 and its 200-day moving average price is $17.59.

Provident Financial (NASDAQ:PROV - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. Provident Financial had a return on equity of 5.23% and a net margin of 11.16%. The company had revenue of $10.59 million during the quarter, compared to analysts' expectations of $10.00 million. On average, equities analysts forecast that Provident Financial will post 1.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PROV shares. Piper Sandler boosted their price target on Provident Financial from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Zacks Research downgraded shares of Provident Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 1st. Wall Street Zen upgraded shares of Provident Financial to a "hold" rating in a research report on Saturday, October 3rd. Finally, Weiss Ratings upgraded shares of Provident Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Provident Financial presently has an average rating of "Moderate Buy" and an average target price of $18.00.

About Provident Financial

Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, FSB, a community-oriented savings bank headquartered in Riverside, California. The bank provides deposit and lending services to individuals, families, businesses and real estate professionals, with operations focused primarily on Southern California.

Provident Savings Bank offers checking, savings, money market and certificate of deposit accounts, along with residential mortgage loans, multifamily and commercial real estate loans, construction financing, commercial business loans and consumer lending products.

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