M3F Inc. Reduces Stock Position in Provident Financial Holdings, Inc. (NASDAQ:PROV)

M3F Inc. lessened its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV - Free Report) by 12.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 436,000 shares of the financial services provider's stock after selling 64,000 shares during the quarter. Provident Financial makes up about 2.0% of M3F Inc.'s holdings, making the stock its 13th largest position. M3F Inc. owned approximately 6.52% of Provident Financial worth $6,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Empowered Funds LLC grew its position in Provident Financial by 5.1% in the 4th quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider's stock worth $429,000 after purchasing an additional 1,307 shares in the last quarter. Fourthstone LLC boosted its stake in shares of Provident Financial by 30.5% in the 4th quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider's stock worth $1,433,000 after buying an additional 21,030 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Provident Financial by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider's stock valued at $7,737,000 after acquiring an additional 1,342 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Provident Financial Stock Performance

Shares of PROV stock traded down $0.05 during trading hours on Friday, hitting $14.60. 4,875 shares of the company were exchanged, compared to its average volume of 7,459. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $97.69 million, a price-to-earnings ratio of 16.04 and a beta of 0.19. The firm has a fifty day simple moving average of $14.52 and a 200 day simple moving average of $15.29. Provident Financial Holdings, Inc. has a 52-week low of $12.01 and a 52-week high of $16.70.

Provident Financial (NASDAQ:PROV - Get Free Report) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.13). Provident Financial had a return on equity of 4.81% and a net margin of 10.39%. During the same period in the previous year, the company earned $0.31 earnings per share. Research analysts predict that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.84%. Provident Financial's dividend payout ratio (DPR) is presently 61.54%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler cut their price objective on Provident Financial from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th. StockNews.com initiated coverage on Provident Financial in a research note on Saturday, April 19th. They set a "hold" rating on the stock.

Provident Financial 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.