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

Provident Financial Holdings, Inc. (NASDAQ:PROV) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.14 per share by the financial services provider on Thursday, December 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Thursday, November 12th.

Provident Financial has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Provident Financial to earn $1.27 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 44.1%.

Provident Financial Trading Down 0.1%

PROV opened at $18.19 on Friday. Provident Financial has a 1-year low of $14.95 and a 1-year high of $18.99. The stock has a market capitalization of $112.78 million, a PE ratio of 17.66 and a beta of 0.32. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $18.32 and a two-hundred day moving average price of $17.59.

Provident Financial (NASDAQ:PROV) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. Provident Financial had a net margin of 11.16% and a return on equity of 5.23%. The company had revenue of $10.59 million for the quarter, compared to analyst estimates of $10.00 million. As a group, equities analysts anticipate that Provident Financial will post 1.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PROV. Weiss Ratings raised Provident Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 16th. Zacks Research downgraded shares of Provident Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 1st. Wall Street Zen upgraded shares of Provident Financial to a “hold” rating in a report on Saturday, October 3rd. Finally, Piper Sandler raised their price objective on shares of Provident Financial from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Provident Financial presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Provident Financial Company Profile

Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, FSB, a community-oriented savings bank headquartered in Riverside, California. The bank provides deposit and lending services to individuals, families, businesses and real estate professionals, with operations focused primarily on Southern California.

Provident Savings Bank offers checking, savings, money market and certificate of deposit accounts, along with residential mortgage loans, multifamily and commercial real estate loans, construction financing, commercial business loans and consumer lending products.