Continental Advisors LLC Sells 22,159 Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV)

Continental Advisors LLC trimmed its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 47.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,094 shares of the financial services provider’s stock after selling 22,159 shares during the quarter. Continental Advisors LLC owned approximately 0.36% of Provident Financial worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Empowered Funds LLC grew its position in Provident Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 1,307 shares during the last quarter. Fourthstone LLC grew its holdings in shares of Provident Financial by 30.5% during the fourth quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 21,030 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Provident Financial by 0.3% in 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 in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Piper Sandler lowered their price objective on shares of Provident Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. StockNews.com initiated coverage on Provident Financial in a report on Saturday. They set a “hold” rating on the stock.

Provident Financial Stock Performance

Shares of NASDAQ:PROV opened at $14.20 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.91. Provident Financial Holdings, Inc. has a 1-year low of $12.01 and a 1-year high of $16.70. The stock has a market capitalization of $95.01 million, a P/E ratio of 15.60 and a beta of 0.19. The business has a 50-day moving average price of $14.59 and a two-hundred day moving average price of $15.30.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). Provident Financial had a net margin of 10.39% and a return on equity of 4.81%. During the same quarter last year, the business earned $0.31 earnings per share. Equities analysts predict that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current year.

Provident Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 13th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, February 13th. This represents a $0.56 annualized dividend and a dividend yield of 3.94%. Provident Financial’s payout ratio is currently 61.54%.

About Provident Financial

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.