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. Investors 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 annualized dividend and a yield of 3.61%.

Provident Financial has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. 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 traded down $0.20 during mid-day trading on Thursday, reaching $15.50. 3,613 shares of the company traded hands, compared to its average volume of 8,814. Provident Financial has a fifty-two week low of $12.72 and a fifty-two week high of $16.70. The firm's fifty day moving average is $15.46 and its two-hundred day moving average is $15.13. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $103.70 million, a price-to-earnings ratio of 15.98 and a beta of 0.34.

Provident Financial (NASDAQ:PROV - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. Provident Financial had a net margin of 10.87% and a return on equity of 5.09%. The company had revenue of $10.12 million for the quarter, compared to analyst estimates of $9.86 million. On average, equities research analysts expect that Provident Financial will post 0.9 earnings per share for the current fiscal year.

Insider Transactions at Provident Financial

In other news, SVP Gwendolyn Wertz sold 1,940 shares of Provident Financial stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $15.40, for a total value of $29,876.00. Following the completion of 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.

Hedge Funds Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC grew its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV - Free Report) by 7.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 as of its most recent SEC filing. Institutional investors and hedge funds own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

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

About Provident Financial

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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