Provident Financial Holdings, Inc. (PROV) to Distribute Quarterly Dividend of $0.14 on December 3rd

Provident Financial Holdings, Inc. (NASDAQ:PROV) announced a quarterly dividend on Thursday, October 22nd. Investors of record on Thursday, November 12th will be paid a dividend of $0.14 per share by the financial services provider on Thursday, December 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Thursday, November 12th.

Provident Financial has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Provident Financial to earn $1.42 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 39.4%.

Provident Financial Stock Down 0.2%

Shares of NASDAQ:PROV opened at $18.17 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $18.33 and its 200 day moving average is $17.26. The stock has a market cap of $112.65 million, a P/E ratio of 17.64 and a beta of 0.33. Provident Financial has a 52-week low of $14.95 and a 52-week high of $18.99.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.07). Provident Financial had a return on equity of 5.16% and a net margin of 10.88%. The business had revenue of $10.57 million during the quarter, compared to analysts’ expectations of $10.30 million. Sell-side analysts predict that Provident Financial will post 1.24 EPS for the current year.

Insider Transactions at Provident Financial

In related news, Director Craig Blunden sold 5,700 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $18.20, for a total value of $103,740.00. Following the completion of the transaction, the director owned 202,284 shares in the company, valued at $3,681,568.80. This trade represents a 2.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 10.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP boosted its position in Provident Financial by 73.9% in the second quarter. Susquehanna International Group LLP now owns 32,363 shares of the financial services provider’s stock valued at $557,000 after buying an additional 13,756 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Provident Financial in the 2nd quarter valued at $595,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Provident Financial in the 2nd quarter valued at $37,000. Raffles Associates LP acquired a new stake in shares of Provident Financial in the second quarter worth $6,727,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Provident Financial in the second quarter worth $5,224,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Provident Financial Company Profile

Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, a federally chartered community bank headquartered in Riverside, California. The bank serves individuals, families and businesses primarily in Southern California, with a focus on the Inland Empire and surrounding communities.

Provident Savings Bank offers a range of traditional banking products and services, including deposit accounts, residential mortgage loans, home equity financing, consumer loans and commercial real estate lending.