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

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Shareholders of record on Thursday, August 14th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, September 4th. This represents a $0.56 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, August 14th.

Provident Financial has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities 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

PROV stock traded down $0.24 during midday trading on Monday, reaching $15.25. The company had a trading volume of 1,565 shares, compared to its average volume of 6,039. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. The stock has a 50 day moving average price of $15.45 and a 200 day moving average price of $15.12. Provident Financial has a fifty-two week low of $12.72 and a fifty-two week high of $16.70. The firm has a market capitalization of $102.02 million, a PE ratio of 15.72 and a beta of 0.34.

Provident Financial (NASDAQ:PROV - Get Free Report) last issued its earnings results on Monday, July 28th. The financial services provider reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.07). Provident Financial had a net margin of 10.87% and a return on equity of 5.09%. During the same period last year, the company earned $0.28 earnings per share. Analysts anticipate that Provident Financial will post 0.9 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PROV shares. Wall Street Zen started coverage on Provident Financial in a report on Wednesday, May 21st. They set a "hold" rating on the stock. Piper Sandler raised Provident Financial to a "neutral" rating and set a $16.50 price target on the stock in a report on Monday, July 14th.

Insider Buying and Selling at Provident Financial

In related news, SVP Gwendolyn Wertz sold 1,940 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $15.40, for a total transaction of $29,876.00. Following the sale, the senior vice president owned 25,337 shares of the company's stock, valued at $390,189.80. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.41% of the company's stock.

Institutional Investors Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC boosted its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,084 shares of the financial services provider's stock after purchasing an additional 2,120 shares during the period. Empowered Funds LLC owned 0.43% of Provident Financial worth $424,000 at the end of the most recent reporting period. 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.