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

Provident Financial Holdings, Inc. (NASDAQ:PROV) declared a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Stockholders of record on Thursday, February 13th will be given 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 dividend yield of 3.54%. The ex-dividend date is Thursday, February 13th.

Provident Financial has a dividend payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.4 %

PROV stock opened at $15.80 on Friday. 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 company’s 50-day moving average price is $15.87 and its 200 day moving average price is $14.77. Provident Financial has a 52 week low of $12.01 and a 52 week high of $16.70. The company has a market cap of $106.81 million, a P/E ratio of 14.50 and a beta of 0.38.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on PROV. StockNews.com assumed coverage on Provident Financial in a research note on Tuesday, January 21st. They set a “hold” rating for the company. Piper Sandler lifted their target price on shares of Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th.

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.