Provident Financial Holdings, Inc. (PROV) to Issue Quarterly Dividend of $0.14 on June 5th

Provident Financial Holdings, Inc. (NASDAQ:PROV) announced a quarterly dividend on Thursday, April 24th, RTT News reports. Stockholders of record on Thursday, May 15th will be paid a dividend of 0.14 per share by the financial services provider on Thursday, June 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Thursday, May 15th.

Provident Financial has a payout ratio of 39.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Provident Financial to earn $1.20 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 46.7%.

Provident Financial Trading Up 2.1%

Shares of PROV opened at $15.36 on Tuesday. Provident Financial has a 1-year low of $12.01 and a 1-year high of $16.70. The company has a market capitalization of $102.77 million, a P/E ratio of 16.88 and a beta of 0.33. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s 50 day simple moving average is $14.45 and its 200 day simple moving average is $15.31.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.04. Provident Financial had a net margin of 10.39% and a return on equity of 4.81%. The firm had revenue of $10.12 million for the quarter, compared to analysts’ expectations of $9.86 million. Sell-side analysts forecast that Provident Financial will post 0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PROV has been the subject of a number of research reports. StockNews.com began coverage on Provident Financial in a report on Tuesday. They issued a “hold” rating for the company. Piper Sandler cut their target price on Provident Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th.

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.