O Shaughnessy Asset Management LLC cut its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 11.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,935 shares of the financial services provider’s stock after selling 895 shares during the period. O Shaughnessy Asset Management LLC owned about 0.09% of Provident Financial Holdings worth $129,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in PROV. Bessemer Group Inc. increased its stake in shares of Provident Financial Holdings by 7.1% in the fourth quarter. Bessemer Group Inc. now owns 9,000 shares of the financial services provider’s stock worth $182,000 after buying an additional 600 shares in the last quarter. Teachers Advisors LLC increased its stake in Provident Financial Holdings by 12.4% in the fourth quarter. Teachers Advisors LLC now owns 11,558 shares of the financial services provider’s stock worth $234,000 after buying an additional 1,271 shares during the period. Baird Financial Group Inc. acquired a new stake in Provident Financial Holdings during the fourth quarter worth $303,000. Martingale Asset Management L P increased its stake in Provident Financial Holdings by 5.1% in the first quarter. Martingale Asset Management L P now owns 28,703 shares of the financial services provider’s stock worth $536,000 after buying an additional 1,400 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in Provident Financial Holdings during the fourth quarter worth $760,000. Institutional investors own 60.18% of the company’s stock.
Shares of Provident Financial Holdings, Inc. (PROV) traded down 1.03% during trading on Tuesday, reaching $19.31. 1,899 shares of the company traded hands. Provident Financial Holdings, Inc. has a 52 week low of $17.25 and a 52 week high of $20.66. The stock has a market capitalization of $152.38 million, a PE ratio of 23.10 and a beta of 0.04. The firm has a 50 day moving average of $19.20 and a 200 day moving average of $19.14.
Provident Financial Holdings (NASDAQ:PROV) last posted its earnings results on Thursday, April 27th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.02. The business had revenue of $15.44 million for the quarter, compared to analyst estimates of $16.79 million. Provident Financial Holdings had a return on equity of 5.12% and a net margin of 8.85%. During the same period last year, the company posted $0.18 EPS. On average, equities analysts predict that Provident Financial Holdings, Inc. will post $0.70 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 19th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Wednesday, May 17th. Provident Financial Holdings’s dividend payout ratio (DPR) is presently 62.65%.
Separately, Hovde Group assumed coverage on shares of Provident Financial Holdings in a report on Tuesday, April 11th. They issued a “market perform” rating and a $20.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $19.50.
Provident Financial Holdings Company Profile
Provident Financial Holdings, Inc is the holding company of Provident Savings Bank, F.S.B. (the Bank). The Bank is a federally chartered stock savings bank. The Company operates through two segments: Provident Bank and Provident Bank Mortgage (PBM). The Bank’s operations primarily consist of accepting deposits from customers within the communities surrounding the Bank’s full service offices and investing those funds in single-family loans, multi-family loans, commercial real estate loans, construction loans, commercial business loans, consumer loans and other mortgage loans.
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