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

Provident Financial Holdings, Inc. (NASDAQ:PROV) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Thursday, November 14th will be given a dividend of 0.14 per share by the financial services provider on Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Thursday, November 14th.

Provident Financial has a dividend payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Provident Financial to earn $1.35 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 41.5%.

Provident Financial Price Performance

PROV traded down $0.10 during trading on Friday, reaching $15.50. 1,594 shares of the stock were exchanged, compared to its average volume of 6,990. The company has a market capitalization of $106.33 million, a price-to-earnings ratio of 14.62 and a beta of 0.40. Provident Financial has a 1 year low of $10.16 and a 1 year high of $15.63. The business’s 50 day moving average price is $14.37 and its two-hundred day moving average price is $13.35. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.23 and a quick ratio of 1.23.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.05. Provident Financial had a return on equity of 5.67% and a net margin of 12.53%. The firm had revenue of $15.38 million during the quarter, compared to analysts’ expectations of $9.57 million. During the same quarter last year, the business posted $0.26 EPS. As a group, equities research analysts anticipate that Provident Financial will post 1 earnings per share for the current year.

Analysts Set New Price Targets

PROV has been the subject of a number of recent analyst reports. StockNews.com started coverage on Provident Financial in a research report on Sunday, September 15th. They issued a “hold” rating for the company. Piper Sandler raised their price objective on Provident Financial from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

About Provident Financial

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.