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

Key Points

• Provident declared a quarterly dividend of $0.14 per share (ex‑dividend/record date May 14) payable June 4, implying a ~3.3% annualized yield and a payout ratio of 39.2%, suggesting the dividend is covered by earnings.
• The company reported Q4 EPS of $0.22, missing analysts' $0.30 estimate by $0.08, while revenue of $14.87 million topped estimates of $10.10 million.
• Shares trade around $17.05 with a market cap of ~$108.8M and a P/E of 17.22, a 52‑week range of $14.40–$17.34, and roughly 71.34% of stock held by institutional investors (several funds recently increased positions).

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) declared a quarterly dividend on Thursday, April 23rd. Shareholders of record on Thursday, May 14th will be given a dividend of 0.14 per share by the financial services provider on Thursday, June 4th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, May 14th.

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

Provident Financial Stock Performance

NASDAQ PROV opened at $17.05 on Friday. The stock's fifty day moving average is $16.35 and its two-hundred day moving average is $15.97. The firm has a market capitalization of $108.78 million, a P/E ratio of 17.22 and a beta of 0.29. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.24 and a current ratio of 1.24. Provident Financial has a fifty-two week low of $14.40 and a fifty-two week high of $17.34.

Provident Financial (NASDAQ:PROV - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.08). The company had revenue of $14.87 million for the quarter, compared to analyst estimates of $10.10 million. Provident Financial had a return on equity of 5.14% and a net margin of 10.97%.

Institutional Investors Weigh In On Provident Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP purchased a new stake in shares of Provident Financial in the 3rd quarter valued at $273,000. Empowered Funds LLC raised its holdings in shares of Provident Financial by 6.2% in the 4th quarter. Empowered Funds LLC now owns 31,454 shares of the financial services provider's stock valued at $500,000 after buying an additional 1,834 shares during the period. Fourthstone LLC raised its holdings in shares of Provident Financial by 52.6% in the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider's stock valued at $5,603,000 after buying an additional 121,329 shares during the period. Bridgeway Capital Management LLC raised its holdings in shares of Provident Financial by 2.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider's stock valued at $1,060,000 after buying an additional 1,834 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Provident Financial by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider's stock valued at $472,000 after buying an additional 3,459 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

About Provident Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.