Provident Financial Holdings, Inc. to Issue 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 paid a dividend of 0.14 per share by the financial services provider on Thursday, September 5th. This represents a $0.56 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Thursday, August 15th.

Provident Financial has a dividend payout ratio of 45.5% meaning 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 Stock Performance

PROV opened at $13.26 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.81. Provident Financial has a 12-month low of $10.16 and a 12-month high of $15.40. The firm has a 50 day moving average of $12.73 and a two-hundred day moving average of $13.28. The firm has a market capitalization of $91.20 million, a PE ratio of 12.75 and a beta of 0.39.

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

Wall Street Analysts Forecast Growth

PROV has been the subject of several analyst reports. Piper Sandler boosted their price objective on Provident Financial from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com assumed coverage on Provident Financial in a report on Wednesday. They issued a “hold” rating for the company.

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.