Talbot Financial LLC Sells 7,039 Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV)

Talbot Financial LLC decreased its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 11.4% during the 1st quarter, HoldingsChannel reports. The firm owned 54,865 shares of the financial services provider’s stock after selling 7,039 shares during the quarter. Talbot Financial LLC’s holdings in Provident Financial were worth $734,000 at the end of the most recent reporting period.

Separately, Federated Hermes Inc. lifted its stake in shares of Provident Financial by 4.8% in the 3rd quarter. Federated Hermes Inc. now owns 25,798 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 1,173 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on PROV. Piper Sandler dropped their target price on Provident Financial from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. StockNews.com started coverage on shares of Provident Financial in a research report on Thursday. They issued a “hold” rating for the company.

Provident Financial Trading Down 1.7 %

Shares of PROV stock traded down $0.21 on Monday, hitting $12.29. The company had a trading volume of 435 shares, compared to its average volume of 4,927. Provident Financial Holdings, Inc. has a twelve month low of $10.16 and a twelve month high of $15.40. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $84.56 million, a P/E ratio of 11.82 and a beta of 0.39. The stock’s 50-day moving average is $12.64 and its two-hundred day moving average is $13.31.

Provident Financial (NASDAQ:PROV) last released its earnings results on Monday, April 29th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The firm had revenue of $9.41 million for the quarter, compared to analyst estimates of $9.72 million. Provident Financial had a net margin of 12.57% and a return on equity of 5.56%. On average, equities research analysts anticipate that Provident Financial Holdings, Inc. will post 0.99 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 16th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.56 annualized dividend and a yield of 4.56%. Provident Financial’s payout ratio is 53.85%.

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.