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

Provident Financial Holdings, Inc. (NASDAQ:PROV) announced a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Shareholders of record on Thursday, February 13th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, March 6th. This represents a $0.56 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, February 13th.

Provident Financial has a payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Provident Financial to earn $1.35 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 41.5%.

Provident Financial Stock Performance

Shares of PROV traded up $0.07 during mid-day trading on Friday, hitting $15.80. 7,205 shares of the company’s stock were exchanged, compared to its average volume of 8,341. The stock’s 50-day simple moving average is $15.87 and its 200-day simple moving average is $14.73. Provident Financial has a 52 week low of $12.01 and a 52 week high of $16.70. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.93. The firm has a market cap of $106.86 million, a price-to-earnings ratio of 14.50 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last released its earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. The company had revenue of $14.97 million for the quarter, compared to analyst estimates of $9.74 million. During the same period in the prior year, the firm posted $0.25 EPS. On average, equities research analysts expect that Provident Financial will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

PROV has been the subject of several research analyst reports. Piper Sandler boosted their price objective on shares of Provident Financial from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com started coverage on shares of Provident Financial in a report on Tuesday. They issued a “hold” rating for the company.

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.