Geode Capital Management LLC Sells 1,030 Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV)

Geode Capital Management LLC cut its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 1.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 60,559 shares of the financial services provider’s stock after selling 1,030 shares during the period. Geode Capital Management LLC’s holdings in Provident Financial were worth $869,000 as of its most recent SEC filing.

Separately, Empowered Funds LLC boosted its position in shares of Provident Financial by 4.9% during the third quarter. Empowered Funds LLC now owns 25,657 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 1,206 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

PROV has been the topic of several research reports. StockNews.com initiated coverage on Provident Financial in a research report on Sunday, January 5th. They set a “hold” rating on the stock. Piper Sandler lifted their price target on Provident Financial from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th.

Provident Financial Stock Down 5.2 %

Shares of NASDAQ:PROV opened at $15.01 on Friday. The stock has a fifty day simple moving average of $15.99 and a two-hundred day simple moving average of $14.54. The stock has a market capitalization of $101.51 million, a price-to-earnings ratio of 13.77 and a beta of 0.38. Provident Financial Holdings, Inc. has a 12-month low of $12.01 and a 12-month high of $16.70. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $14.97 million during the quarter, compared to analysts’ expectations of $9.74 million. Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. During the same quarter in the previous year, the business earned $0.25 earnings per share. On average, research analysts anticipate that Provident Financial Holdings, Inc. will post 1.05 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Thursday, November 14th. Provident Financial’s payout ratio is 51.38%.

Provident Financial 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.