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

Key Points

• Provident Financial Holdings announced a quarterly dividend of $0.14 per share, payable on September 3 to shareholders of record on August 13. The dividend implies an annualized yield of about 3.3%.
• The company’s dividend appears reasonably covered, with a 39.2% payout ratio; analysts expect earnings to support continued payments, though the forward payout ratio could rise to 53.8%.
• Recent analyst sentiment is cautious, with multiple firms maintaining or assigning Hold/Neutral ratings and an average price target of $17.00, close to the stock’s recent trading level of $17.21.

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Thursday, August 13th will be given a dividend of 0.14 per share by the financial services provider on Thursday, September 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, August 13th.

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 $1.04 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 53.8%.

Provident Financial Stock Performance

Provident Financial stock opened at $17.21 on Friday. Provident Financial has a 52-week low of $14.95 and a 52-week high of $17.42. The company has a market cap of $107.56 million, a P/E ratio of 18.71 and a beta of 0.33. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.45. The business has a 50-day simple moving average of $17.09 and a two-hundred day simple moving average of $16.63.

Provident Financial (NASDAQ:PROV - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.08). The business had revenue of $14.57 million during the quarter, compared to the consensus estimate of $10.10 million. Provident Financial had a return on equity of 4.77% and a net margin of 10.27%. Analysts predict that Provident Financial will post 0.96 EPS for the current year.

Analysts Set New Price Targets

PROV has been the topic of several recent research reports. Piper Sandler began coverage on shares of Provident Financial in a research report on Friday, June 26th. They issued a "neutral" rating and a $17.00 price target on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Provident Financial in a research report on Friday, July 17th. Finally, Zacks Research upgraded Provident Financial to a "hold" rating in a research note on Monday, June 29th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average price target of $17.00.

Provident Financial Company Profile

Provident Financial Services, Inc NASDAQ: PROV is a bank holding company headquartered in Jersey City, New Jersey, that conducts its operations through its wholly owned subsidiary, Provident Bank. With origins dating back to 1839, the company has grown into a full-service financial institution offering a broad spectrum of products and services to individuals, small businesses and commercial clients.

The company's principal business activities include retail banking, commercial lending, mortgage finance and wealth management.

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