Provident Financial Holdings, Inc. (NASDAQ:PROV) Short Interest Update

Provident Financial Holdings, Inc. (NASDAQ:PROV) saw a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 36,900 shares, a decline of 17.1% from the March 31st total of 44,500 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 5,000 shares, the days-to-cover ratio is presently 7.4 days.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Provident Financial in a report on Wednesday. They set a “hold” rating for the company.

Institutional Trading of Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. raised its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,798 shares of the financial services provider’s stock after acquiring an additional 1,173 shares during the period. Federated Hermes Inc. owned about 0.37% of Provident Financial worth $338,000 as of its most recent SEC filing. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Provident Financial Stock Down 0.2 %

Shares of PROV stock opened at $12.90 on Friday. The firm has a market cap of $89.40 million, a PE ratio of 11.22 and a beta of 0.40. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.87. Provident Financial has a 12 month low of $10.16 and a 12 month high of $15.40. The stock has a 50 day moving average of $13.75 and a 200-day moving average of $13.01.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The business had revenue of $9.65 million for the quarter, compared to analysts’ expectations of $10.00 million. Provident Financial had a return on equity of 6.20% and a net margin of 14.43%. On average, equities analysts predict that Provident Financial will post 1.05 EPS for the current year.

Provident Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Wednesday, May 15th. Provident Financial’s dividend payout ratio is presently 48.70%.

Provident Financial Company Profile

Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. The company's deposit products include checking, savings, and money market accounts, as well as time deposits; and loan portfolio consists of single-family, multi-family, commercial real estate, construction, mortgage, commercial business, and consumer loans.