Provident Financial Holdings, Inc. (NASDAQ:PROV) Plans $0.14 Quarterly Dividend

Key Points

• Provident Financial Holdings, Inc. announced a quarterly dividend of $0.14 per share, set to be paid on December 4th to stockholders of record on November 13th, representing a dividend yield of 3.6%.
• The company's recent earnings report showed a miss in expected earnings per share, coming in at $0.24 compared to the consensus estimate of $0.29, alongside a revenue of $9.76 million.
• Institutional investors and hedge funds own approximately 71.34% of Provident Financial's stock, with notable increases in positions by several funds in recent quarters.

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) announced a quarterly dividend on Thursday, October 23rd. Stockholders of record on Thursday, November 13th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, December 4th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, November 13th.

Provident Financial has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Provident Financial to earn $1.20 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 46.7%.

Provident Financial Stock Performance

Provident Financial stock opened at $15.77 on Friday. Provident Financial has a fifty-two week low of $12.98 and a fifty-two week high of $16.70. The firm's 50 day simple moving average is $15.60 and its 200-day simple moving average is $15.33. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $102.55 million, a P/E ratio of 16.96 and a beta of 0.40.

Provident Financial (NASDAQ:PROV - Get Free Report) last issued its earnings results on Monday, July 28th. The financial services provider reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.05). Provident Financial had a net margin of 10.40% and a return on equity of 4.85%. The business had revenue of $9.76 million during the quarter, compared to analyst estimates of $10.50 million. During the same quarter in the prior year, the company earned $0.28 EPS. As a group, equities research analysts predict that Provident Financial will post 0.9 EPS for the current year.

Hedge Funds Weigh In On Provident Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PROV. Empowered Funds LLC raised its position in shares of Provident Financial by 7.9% in the first quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider's stock valued at $424,000 after purchasing an additional 2,120 shares during the period. Fourthstone LLC raised its holdings in Provident Financial by 31.4% in the 2nd quarter. Fourthstone LLC now owns 115,210 shares of the financial services provider's stock worth $1,786,000 after acquiring an additional 27,556 shares during the period. Finally, M3F Inc. lifted its position in Provident Financial by 0.5% during the 1st quarter. M3F Inc. now owns 438,215 shares of the financial services provider's stock worth $6,394,000 after acquiring an additional 2,215 shares during the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Provident Financial Company Profile

Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. The company's deposit products include checking, savings, and money market accounts, as well as time deposits; and loan portfolio consists of single-family, multi-family, commercial real estate, construction, mortgage, commercial business, and consumer loans.

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