Provident Financial Holdings, Inc. (NASDAQ:PROV) Stock to Pay Quarterly Dividend of $0.14

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

Provident Financial has a payout ratio of 39.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Provident Financial to earn $1.27 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 44.1%.

Provident Financial Stock Down 0.1%

Shares of NASDAQ:PROV opened at $18.19 on Friday. The company has a market cap of $112.78 million, a price-to-earnings ratio of 17.66 and a beta of 0.32. Provident Financial has a 12 month low of $14.95 and a 12 month high of $18.99. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $18.32 and a 200 day moving average price of $17.59.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Provident Financial had a net margin of 11.16% and a return on equity of 5.23%. The business had revenue of $10.59 million for the quarter, compared to analysts’ expectations of $10.00 million. As a group, equities research analysts predict that Provident Financial will post 1.22 earnings per share for the current year.

Institutional Trading of Provident Financial

A number of institutional investors have recently bought and sold shares of PROV. Raffles Associates LP purchased a new stake in shares of Provident Financial during the second quarter valued at $6,727,000. The Manufacturers Life Insurance Company purchased a new position in Provident Financial in the 2nd quarter worth $5,224,000. BlackRock Inc. purchased a new position in Provident Financial in the 2nd quarter worth $4,844,000. Empowered Funds LLC purchased a new stake in Provident Financial during the 2nd quarter valued at about $595,000. Finally, Susquehanna International Group LLP grew its stake in Provident Financial by 73.9% during the 2nd quarter. Susquehanna International Group LLP now owns 32,363 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 13,756 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Provident Financial Company Profile

Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, FSB, a community-oriented savings bank headquartered in Riverside, California. The bank provides deposit and lending services to individuals, families, businesses and real estate professionals, with operations focused primarily on Southern California.

Provident Savings Bank offers checking, savings, money market and certificate of deposit accounts, along with residential mortgage loans, multifamily and commercial real estate loans, construction financing, commercial business loans and consumer lending products.