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

Provident Financial Holdings, Inc. (NASDAQ:PROV) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Thursday, August 13th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, September 3rd. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, August 13th.

Provident Financial has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Provident Financial to earn $1.04 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 53.8%.

Provident Financial Price Performance

Shares of NASDAQ:PROV opened at $17.21 on Friday. Provident Financial has a one year low of $14.95 and a one year high of $17.42. The company has a 50 day moving average of $17.09 and a 200-day moving average of $16.63. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $107.56 million, a price-to-earnings ratio of 18.71 and a beta of 0.33.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.08). Provident Financial had a net margin of 10.27% and a return on equity of 4.77%. The business had revenue of $14.57 million during the quarter, compared to analyst estimates of $10.10 million. On average, sell-side analysts forecast that Provident Financial will post 0.96 earnings per share for the current year.

Insider Activity at Provident Financial

In related news, SVP David Weiant sold 2,732 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.12, for a total transaction of $46,771.84. Following the sale, the senior vice president owned 6,175 shares of the company’s stock, valued at approximately $105,716. This trade represents a 30.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 4,744 shares of company stock valued at $81,076. 11.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Provident Financial

Hedge funds have recently modified their holdings of the business. Susquehanna International Group LLP bought a new position in shares of Provident Financial during the 3rd quarter valued at about $273,000. Empowered Funds LLC boosted its holdings in shares of Provident Financial by 7.9% in the first quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock valued at $424,000 after buying an additional 2,120 shares during the period. Federated Hermes Inc. increased its position in shares of Provident Financial by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after acquiring an additional 3,459 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Provident Financial by 2.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 1,834 shares during the period. Finally, Fourthstone LLC grew its holdings in Provident Financial by 52.6% during the fourth quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after purchasing an additional 121,329 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

About Provident Financial

Provident Financial Services, Inc (NASDAQ: PROV) is a bank holding company headquartered in Jersey City, New Jersey, that conducts its operations through its wholly owned subsidiary, Provident Bank. With origins dating back to 1839, the company has grown into a full-service financial institution offering a broad spectrum of products and services to individuals, small businesses and commercial clients.

The company’s principal business activities include retail banking, commercial lending, mortgage finance and wealth management.