Provident Financial Holdings, Inc. (NASDAQ:PROV) Holdings Reduced by Bank of New York Mellon Corp

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Bank of New York Mellon Corp lowered its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 30.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,591 shares of the financial services provider’s stock after selling 18,379 shares during the quarter. Bank of New York Mellon Corp owned about 0.57% of Provident Financial worth $813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LMR Partners LLP purchased a new stake in shares of Provident Financial during the second quarter worth $289,000. Acadian Asset Management LLC grew its holdings in shares of Provident Financial by 8.5% during the second quarter. Acadian Asset Management LLC now owns 115,091 shares of the financial services provider’s stock worth $2,197,000 after purchasing an additional 9,054 shares during the last quarter. Beese Fulmer Investment Management Inc. purchased a new position in shares of Provident Financial during the second quarter worth about $281,000. Essex Investment Management Co. LLC purchased a new position in shares of Provident Financial during the second quarter worth about $956,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Provident Financial by 42.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 17,050 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 5,100 shares during the last quarter. Institutional investors own 56.58% of the company’s stock.

Shares of PROV stock traded up $0.09 during mid-day trading on Friday, hitting $17.43. 3,499 shares of the stock were exchanged, compared to its average volume of 5,123. The firm has a market cap of $131.27 million, a price-to-earnings ratio of 24.89 and a beta of 0.19. Provident Financial Holdings, Inc. has a 12-month low of $16.70 and a 12-month high of $19.78. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.02 and a current ratio of 1.13.

Provident Financial (NASDAQ:PROV) last announced its earnings results on Monday, October 29th. The financial services provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Provident Financial had a net margin of 6.63% and a return on equity of 5.37%. The business had revenue of $13.91 million during the quarter, compared to the consensus estimate of $14.50 million.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Thursday, November 15th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.21%. Provident Financial’s dividend payout ratio (DPR) is 80.00%.

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Provident Financial Company Profile

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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Institutional Ownership by Quarter for Provident Financial (NASDAQ:PROV)

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