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

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) announced a quarterly dividend on Thursday, October 24th, Zacks reports. Stockholders of record on Thursday, November 14th will be given a dividend of 0.14 per share by the financial services provider on Thursday, December 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Thursday, November 14th.

Provident Financial has a dividend 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 Stock Performance

Shares of PROV traded down $0.10 during mid-day trading on Friday, reaching $15.50. The company's stock had a trading volume of 1,594 shares, compared to its average volume of 6,990. Provident Financial has a 1-year low of $10.16 and a 1-year high of $15.63. The stock has a market cap of $106.33 million, a P/E ratio of 14.62 and a beta of 0.40. The business has a 50-day simple moving average of $14.37 and a two-hundred day simple moving average of $13.35. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.84.

Provident Financial (NASDAQ:PROV - Get Free Report) last announced its earnings results on Monday, July 29th. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.05. The company had revenue of $15.38 million for the quarter, compared to analyst estimates of $9.57 million. Provident Financial had a return on equity of 5.67% and a net margin of 12.53%. During the same quarter last year, the company earned $0.26 earnings per share. As a group, equities research analysts anticipate that Provident Financial will post 1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Piper Sandler increased their target price on Provident Financial from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. StockNews.com assumed coverage on Provident Financial in a research note on Sunday, September 15th. They set a "hold" rating on the stock.

Provident Financial Company Profile

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.