Provident Financial Holdings, Inc. (PROV) to Distribute Quarterly Dividend of $0.14 on September 3rd

Provident Financial Holdings, Inc. (NASDAQ:PROV) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Thursday, August 13th will be given a dividend of 0.14 per share by the financial services provider on Thursday, September 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Thursday, August 13th.

Provident Financial has a payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Provident Financial to earn $1.04 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 53.8%.

Provident Financial Stock Performance

PROV opened at $17.22 on Friday. The firm has a market cap of $107.62 million, a P/E ratio of 18.72 and a beta of 0.33. Provident Financial has a 52-week low of $14.95 and a 52-week high of $17.42. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.20 and a current ratio of 1.20. The business’s fifty day moving average is $17.09 and its 200-day moving average is $16.64.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). Provident Financial had a return on equity of 4.77% and a net margin of 10.27%.The company had revenue of $14.57 million during the quarter, compared to the consensus estimate of $10.10 million. Sell-side analysts expect that Provident Financial will post 0.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on PROV shares. Zacks Research raised shares of Provident Financial to a “hold” rating in a report on Monday, June 29th. Piper Sandler initiated coverage on shares of Provident Financial in a research report on Friday, June 26th. They issued a “neutral” rating and a $17.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Provident Financial in a report on Friday, July 17th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.00.

About Provident Financial

Provident Financial Services, Inc (NASDAQ: PROV) is a bank holding company headquartered in Jersey City, New Jersey, that conducts its operations through its wholly owned subsidiary, Provident Bank. With origins dating back to 1839, the company has grown into a full-service financial institution offering a broad spectrum of products and services to individuals, small businesses and commercial clients.

The company’s principal business activities include retail banking, commercial lending, mortgage finance and wealth management.