Fourthstone LLC Makes New Investment in Provident Financial Holdings, Inc. (NASDAQ:PROV)

Fourthstone LLC acquired a new stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) in the 3rd quarter, HoldingsChannel reports. The fund acquired 69,050 shares of the financial services provider’s stock, valued at approximately $991,000.

Separately, Empowered Funds LLC lifted its holdings in Provident Financial by 4.9% during the 3rd quarter. Empowered Funds LLC now owns 25,657 shares of the financial services provider’s stock worth $368,000 after buying an additional 1,206 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Provident Financial Stock Down 0.4 %

Shares of PROV stock traded down $0.07 during trading hours on Thursday, reaching $15.95. 1,863 shares of the stock were exchanged, compared to its average volume of 7,047. Provident Financial Holdings, Inc. has a 12-month low of $11.10 and a 12-month high of $16.24. The business’s fifty day moving average is $15.12 and its two-hundred day moving average is $13.77. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $107.82 million, a P/E ratio of 14.63 and a beta of 0.39.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $14.97 million for the quarter, compared to the consensus estimate of $9.74 million. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. During the same period in the prior year, the firm posted $0.25 EPS. As a group, research analysts expect that Provident Financial Holdings, Inc. will post 1.05 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.51%. Provident Financial’s payout ratio is currently 51.38%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PROV. StockNews.com began coverage on Provident Financial in a research report on Thursday, November 7th. They set a “hold” rating on the stock. Piper Sandler boosted their target price on Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th.

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.