The Manufacturers Life Insurance Company Purchases 23,117 Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV)

The Manufacturers Life Insurance Company boosted its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 334,789 shares of the financial services provider's stock after acquiring an additional 23,117 shares during the quarter. The Manufacturers Life Insurance Company owned 5.00% of Provident Financial worth $5,326,000 at the end of the most recent reporting period.

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

Provident Financial Stock Performance

PROV opened at $15.11 on Thursday. The firm has a market cap of $101.07 million, a P/E ratio of 16.60 and a beta of 0.33. Provident Financial Holdings, Inc. has a 1-year low of $12.01 and a 1-year high of $16.70. The company has a 50 day simple moving average of $14.44 and a two-hundred day simple moving average of $15.31. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.25 and a quick ratio of 1.25.

Provident Financial (NASDAQ:PROV - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.04. The business had revenue of $10.12 million for the quarter, compared to analysts' expectations of $9.86 million. Provident Financial had a return on equity of 4.81% and a net margin of 10.39%. Equities analysts forecast that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be paid a $0.14 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.56 annualized dividend and a yield of 3.71%. Provident Financial's payout ratio is 57.73%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PROV. StockNews.com assumed coverage on shares of Provident Financial in a research report on Monday. They set a "hold" rating for the company. Piper Sandler decreased their price objective on Provident Financial from $17.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 29th.

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.

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