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

Provident Financial Holdings, Inc. (NASDAQ:PROV) announced a quarterly dividend on Thursday, July 25th, Zacks reports. Investors of record on Thursday, August 15th will be given a dividend of 0.14 per share by the financial services provider on Thursday, September 5th. This represents a $0.56 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Thursday, August 15th.

Provident Financial has a payout ratio of 45.5% indicating that its dividend is sufficiently covered by earnings. Research 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 0.2 %

PROV opened at $13.26 on Wednesday. Provident Financial has a one year low of $10.16 and a one year high of $15.40. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50 day simple moving average of $12.73 and a two-hundred day simple moving average of $13.28. The firm has a market capitalization of $91.20 million, a price-to-earnings ratio of 12.75 and a beta of 0.39.

Provident Financial (NASDAQ:PROV) last posted its earnings results on Monday, July 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.05. Provident Financial had a return on equity of 5.68% and a net margin of 12.53%. The firm had revenue of $15.38 million for the quarter, compared to analysts’ expectations of $9.57 million. During the same period in the previous year, the firm earned $0.26 earnings per share. Analysts predict that Provident Financial will post 1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PROV shares. StockNews.com started coverage on shares of Provident Financial in a report on Wednesday. They issued a “hold” rating for the company. Piper Sandler increased their price target on shares of Provident Financial from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note 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.