Federated Hermes Inc. Reduces Position in Provident Financial Holdings, Inc. (NASDAQ:PROV)

Federated Hermes Inc. trimmed its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,821 shares of the financial services provider’s stock after selling 926 shares during the quarter. Federated Hermes Inc. owned about 0.38% of Provident Financial worth $323,000 as of its most recent SEC filing.

Separately, Empowered Funds LLC lifted its position in Provident Financial by 7.4% during the first quarter. Empowered Funds LLC now owns 22,831 shares of the financial services provider’s stock worth $305,000 after buying an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Provident Financial Trading Down 0.1 %

PROV opened at $14.38 on Wednesday. The stock has a market capitalization of $98.91 million, a PE ratio of 13.83 and a beta of 0.40. Provident Financial Holdings, Inc. has a one year low of $10.16 and a one year high of $15.40. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.23 and a current ratio of 1.23. The business’s 50 day moving average price is $13.67 and its 200 day moving average price is $13.19.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05. The business 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 in the prior year, the company posted $0.26 EPS. As a group, equities research analysts expect that Provident Financial Holdings, Inc. will post 1 EPS for the current year.

Provident Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Thursday, August 15th. Provident Financial’s dividend payout ratio is presently 53.85%.

Analysts Set New Price Targets

Several brokerages have issued reports on PROV. StockNews.com started coverage on Provident Financial in a report on Sunday, September 15th. They issued a “hold” rating for the company. Piper Sandler raised their price objective on shares of Provident Financial from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st.

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.