Provident Financial Holdings, Inc. (PROV) to Issue Quarterly Dividend of $0.14 on March 5th

Provident Financial Holdings, Inc. (NASDAQ:PROV) announced a quarterly dividend on Thursday, January 22nd. Investors of record on Thursday, February 12th will be given a dividend of 0.14 per share by the financial services provider on Thursday, March 5th. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Thursday, February 12th.

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 $1.20 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 46.7%.

Provident Financial Price Performance

Shares of Provident Financial stock opened at $16.26 on Tuesday. Provident Financial has a 1-year low of $12.98 and a 1-year high of $16.51. The company has a market capitalization of $105.20 million, a P/E ratio of 16.42 and a beta of 0.32. The business’s fifty day moving average price is $15.97 and its two-hundred day moving average price is $15.66. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.23 and a quick ratio of 1.23.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08). The company had revenue of $14.87 million for the quarter, compared to the consensus estimate of $10.10 million. Provident Financial had a net margin of 10.97% and a return on equity of 5.13%. As a group, research analysts forecast that Provident Financial will post 0.9 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on PROV. Piper Sandler decreased their target price on Provident Financial from $16.50 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Provident Financial in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of Provident Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.00.

Provident Financial Company Profile

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.