Equities analysts expect that Provident Financial Holdings, Inc. (NASDAQ:PROV) will post $9.45 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Provident Financial’s earnings. The highest sales estimate is $9.60 million and the lowest is $9.30 million. Provident Financial posted sales of $10.98 million in the same quarter last year, which would indicate a negative year over year growth rate of 13.9%. The company is expected to issue its next quarterly earnings results on Monday, January 25th.
On average, analysts expect that Provident Financial will report full-year sales of $37.30 million for the current financial year. For the next year, analysts expect that the business will post sales of $38.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Provident Financial.
Provident Financial (NASDAQ:PROV) last released its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). Provident Financial had a return on equity of 6.24% and a net margin of 16.37%. The firm had revenue of $9.33 million for the quarter, compared to analysts’ expectations of $9.70 million.
A number of research firms have weighed in on PROV. Piper Sandler dropped their target price on shares of Provident Financial from $16.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, October 1st. ValuEngine upgraded shares of Provident Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, December 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $17.50.
Provident Financial stock opened at $15.75 on Friday. Provident Financial has a fifty-two week low of $11.40 and a fifty-two week high of $22.84. The stock has a market cap of $117.21 million, a PE ratio of 15.75 and a beta of 0.54. The firm’s 50-day simple moving average is $14.34 and its 200 day simple moving average is $13.09. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.12 and a current ratio of 1.12.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, November 18th. Provident Financial’s payout ratio is 55.45%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in Provident Financial by 105.6% in the second quarter. Bank of America Corp DE now owns 10,212 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 5,244 shares during the last quarter. Maltese Capital Management LLC lifted its stake in shares of Provident Financial by 28.1% during the 3rd quarter. Maltese Capital Management LLC now owns 185,709 shares of the financial services provider’s stock valued at $2,210,000 after buying an additional 40,709 shares in the last quarter. Finally, Pinnacle Holdings LLC purchased a new stake in shares of Provident Financial during the 3rd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 59.43% of the company’s stock.
About Provident Financial
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. Its deposit products include checking, savings, and money market accounts, as well as time deposits; and loan portfolio consists of multi-family, commercial real estate, construction, commercial business, and consumer loans.
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