Provident Financial Holdings, Inc. (PROV) Given Consensus Rating of “Hold” by Analysts
Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) have been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the company. Six investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $19.50.
Separately, Hovde Group began coverage on shares of Provident Financial Holdings in a research report on Tuesday, April 11th. They issued a “market perform” rating and a $20.00 price target for the company.
Provident Financial Holdings (NASDAQ:PROV) remained flat at $19.00 during trading on Monday. 5 shares of the company were exchanged. The company has a market cap of $149.82 million, a PE ratio of 22.73 and a beta of 0.13. The stock’s 50-day moving average is $18.76 and its 200-day moving average is $19.22. Provident Financial Holdings has a 52-week low of $17.20 and a 52-week high of $20.66.
Provident Financial Holdings (NASDAQ:PROV) last released its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.02. Provident Financial Holdings had a net margin of 9.19% and a return on equity of 5.34%. The business earned $15.44 million during the quarter, compared to analyst estimates of $16.79 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, equities analysts expect that Provident Financial Holdings will post $0.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 19th will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.74%. Provident Financial Holdings’s payout ratio is 59.77%.
In other Provident Financial Holdings news, insider David Weiant sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $18.70, for a total transaction of $374,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.71% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. increased its position in shares of Provident Financial Holdings by 7.1% in the fourth quarter. Bessemer Group Inc. now owns 9,000 shares of the financial services provider’s stock valued at $182,000 after buying an additional 600 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Provident Financial Holdings by 12.4% in the fourth quarter. Teachers Advisors LLC now owns 11,558 shares of the financial services provider’s stock valued at $234,000 after buying an additional 1,271 shares in the last quarter. Baird Financial Group Inc. purchased a new position in shares of Provident Financial Holdings during the fourth quarter valued at approximately $303,000. Russell Investments Group Ltd. purchased a new position in shares of Provident Financial Holdings during the fourth quarter valued at approximately $760,000. Finally, JPMorgan Chase & Co. increased its position in shares of Provident Financial Holdings by 85.9% in the third quarter. JPMorgan Chase & Co. now owns 45,411 shares of the financial services provider’s stock valued at $888,000 after buying an additional 20,987 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.
About Provident Financial Holdings
Provident Financial Holdings, Inc is the holding company of Provident Savings Bank, F.S.B. (the Bank). The Bank is a federally chartered stock savings bank. The Company operates through two segments: Provident Bank and Provident Bank Mortgage (PBM). The Bank’s operations primarily consist of accepting deposits from customers within the communities surrounding the Bank’s full service offices and investing those funds in single-family loans, multi-family loans, commercial real estate loans, construction loans, commercial business loans, consumer loans and other mortgage loans.
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