Provident Financial Holdings, Inc. (NASDAQ:PROV) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 83,900 shares, a drop of 7.6% from the June 30th total of 90,800 shares. Based on an average daily trading volume, of 22,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 1.5% of the company’s shares are sold short.
A number of brokerages recently issued reports on PROV. FIG Partners downgraded Provident Financial from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. ValuEngine downgraded Provident Financial from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.
Several large investors have recently added to or reduced their stakes in PROV. Charles Schwab Investment Management Inc. bought a new stake in shares of Provident Financial during the second quarter worth $302,000. Russell Investments Group Ltd. lifted its position in shares of Provident Financial by 2.8% during the second quarter. Russell Investments Group Ltd. now owns 20,133 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 545 shares during the last quarter. Northern Trust Corp lifted its position in shares of Provident Financial by 23.4% during the second quarter. Northern Trust Corp now owns 21,869 shares of the financial services provider’s stock worth $459,000 after purchasing an additional 4,150 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Provident Financial by 52.8% during the second quarter. Bank of New York Mellon Corp now owns 50,622 shares of the financial services provider’s stock worth $1,062,000 after purchasing an additional 17,502 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Provident Financial by 0.9% during the second quarter. Vanguard Group Inc. now owns 287,699 shares of the financial services provider’s stock worth $6,039,000 after purchasing an additional 2,638 shares during the last quarter. Institutional investors and hedge funds own 55.04% of the company’s stock.
Shares of NASDAQ:PROV traded up $0.24 on Thursday, hitting $20.35. 5,900 shares of the company’s stock were exchanged, compared to its average volume of 12,894. Provident Financial has a 12 month low of $14.67 and a 12 month high of $21.81. The stock has a market capitalization of $156.70 million, a price-to-earnings ratio of 35.09 and a beta of 0.49. The business’s 50 day simple moving average is $21.03 and its two-hundred day simple moving average is $20.24. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.09 and a quick ratio of 1.06.
Provident Financial (NASDAQ:PROV) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.11. Provident Financial had a return on equity of 3.62% and a net margin of 7.76%. The business had revenue of $10.69 million during the quarter, compared to the consensus estimate of $11.00 million.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.56 annualized dividend and a dividend yield of 2.75%. Provident Financial’s dividend payout ratio (DPR) is 96.55%.
Provident Financial Company Profile
Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community and mortgage banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. It operates through two segments, Provident Bank and Provident Bank Mortgage.
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