Key Points
- Director Craig Blunden sold 5,700 shares for $103,740 at an average of $18.20, reducing his stake by 2.74%; he retained 202,284 shares.
- Provident Financial reported quarterly EPS of $0.25, below the $0.32 consensus, while revenue of $10.57 million topped expectations of $10.30 million.
- The company declared a quarterly dividend of $0.14 per share, equivalent to a 3.1% annualized yield; analysts’ consensus rating was Buy with an average price target of $18.
Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) Director Craig Blunden sold 5,700 shares of Provident Financial stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $18.20, for a total transaction of $103,740.00. Following the completion of the sale, the director owned 202,284 shares in the company, valued at approximately $3,681,568.80. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Provident Financial Price Performance
Shares of Provident Financial stock opened at $18.17 on Tuesday. The firm has a market cap of $112.65 million, a PE ratio of 17.64 and a beta of 0.33. The stock has a 50 day moving average of $18.33 and a 200 day moving average of $17.26. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. Provident Financial Holdings, Inc. has a 12 month low of $14.95 and a 12 month high of $18.99.
Provident Financial (NASDAQ:PROV - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.07). The firm had revenue of $10.57 million for the quarter, compared to analysts' expectations of $10.30 million. Provident Financial had a return on equity of 5.16% and a net margin of 10.88%. On average, research analysts expect that Provident Financial Holdings, Inc. will post 1.24 EPS for the current fiscal year.
Provident Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 12th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, November 12th. Provident Financial's dividend payout ratio (DPR) is presently 54.37%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on PROV shares. Piper Sandler increased their price target on shares of Provident Financial from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Zacks Research raised Provident Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 3rd. Wall Street Zen upgraded Provident Financial to a "hold" rating in a research report on Saturday, October 3rd. Finally, Weiss Ratings upgraded Provident Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $18.00.
Check Out Our Latest Stock Analysis on Provident Financial
Institutional Trading of Provident Financial
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PROV. BlackRock Inc. bought a new position in Provident Financial in the 2nd quarter valued at $4,844,000. Empowered Funds LLC purchased a new position in Provident Financial in the 2nd quarter worth about $595,000. Raffles Associates LP bought a new stake in Provident Financial during the 2nd quarter valued at about $6,727,000. The Manufacturers Life Insurance Company purchased a new stake in Provident Financial in the 2nd quarter valued at about $5,224,000. Finally, Public Employees Retirement System of Ohio bought a new position in Provident Financial in the 2nd quarter worth about $37,000. 71.34% of the stock is owned by hedge funds and other institutional investors.
Provident Financial Company Profile
(
Get Free Report)
Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, a federally chartered community bank headquartered in Riverside, California. The bank serves individuals, families and businesses primarily in Southern California, with a focus on the Inland Empire and surrounding communities.
Provident Savings Bank offers a range of traditional banking products and services, including deposit accounts, residential mortgage loans, home equity financing, consumer loans and commercial real estate lending.
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