Provident Financial (PROV) Sets New 52-Week High at $20.23

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Provident Financial Holdings, Inc. (NASDAQ:PROV) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $20.23 and last traded at $19.93, with a volume of 11422 shares. The stock had previously closed at $19.60.

Separately, FIG Partners raised Provident Financial from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, February 5th.

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.12 and a quick ratio of 1.04. The company has a market capitalization of $144.64 million, a price-to-earnings ratio of 28.49 and a beta of 0.47.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. Provident Financial had a return on equity of 5.70% and a net margin of 11.15%. The company had revenue of $13.43 million during the quarter, compared to the consensus estimate of $13.50 million.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 19th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Friday, February 15th. Provident Financial’s dividend payout ratio (DPR) is presently 80.00%.

Several institutional investors and hedge funds have recently bought and sold shares of PROV. Bank of America Corp DE raised its stake in shares of Provident Financial by 904.6% during the 2nd quarter. Bank of America Corp DE now owns 5,284 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 4,758 shares in the last quarter. Millennium Management LLC bought a new position in shares of Provident Financial in the 2nd quarter valued at approximately $1,950,000. JPMorgan Chase & Co. raised its stake in shares of Provident Financial by 77.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,836 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 3,860 shares in the last quarter. M3F Inc. raised its stake in shares of Provident Financial by 9.4% in the 3rd quarter. M3F Inc. now owns 408,003 shares of the financial services provider’s stock valued at $7,466,000 after acquiring an additional 34,983 shares in the last quarter. Finally, Maltese Capital Management LLC bought a new position in shares of Provident Financial in the 3rd quarter valued at approximately $458,000. 56.12% of the stock is owned by institutional investors.

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Provident Financial Company Profile (NASDAQ:PROV)

Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community and mortgage banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. It operates through two segments, Provident Bank and Provident Bank Mortgage.

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