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

Provident Financial Holdings, Inc. (NASDAQ:PROV) announced a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Shareholders of record on Thursday, February 13th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, March 6th. This represents a $0.56 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, February 13th.

Provident Financial has a dividend payout ratio of 41.5% 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 Trading Up 0.4 %

NASDAQ PROV traded up $0.07 during trading hours on Friday, hitting $15.80. 7,205 shares of the company’s stock were exchanged, compared to its average volume of 8,341. The firm has a market cap of $106.86 million, a price-to-earnings ratio of 14.50 and a beta of 0.38. Provident Financial has a 1-year low of $12.01 and a 1-year high of $16.70. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93. The stock has a 50-day simple moving average of $15.87 and a 200 day simple moving average of $14.73.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $14.97 million during the quarter, compared to the consensus estimate of $9.74 million. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, equities analysts forecast that Provident Financial will post 1.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PROV. Piper Sandler upped their target price on Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com assumed coverage on shares of Provident Financial in a research note on Tuesday. They issued a “hold” rating on the stock.

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.