Provident Financial Holdings, Inc. (NASDAQ:PROV) Sees Significant Decrease in Short Interest

Provident Financial Holdings, Inc. (NASDAQ:PROVGet Rating) was the target of a large drop in short interest in April. As of April 30th, there was short interest totalling 35,100 shares, a drop of 27.5% from the April 15th total of 48,400 shares. Based on an average daily trading volume, of 6,300 shares, the short-interest ratio is currently 5.6 days. Currently, 0.6% of the shares of the stock are short sold.

NASDAQ:PROV opened at $14.52 on Friday. Provident Financial has a one year low of $14.50 and a one year high of $18.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a market cap of $105.85 million, a P/E ratio of 11.00 and a beta of 0.58. The firm has a 50-day simple moving average of $15.90 and a 200-day simple moving average of $16.46.

Provident Financial (NASDAQ:PROVGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The financial services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The firm had revenue of $8.65 million for the quarter, compared to the consensus estimate of $9.10 million. Provident Financial had a return on equity of 7.80% and a net margin of 25.79%. During the same quarter last year, the firm earned $0.21 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 9th. Stockholders of record on Thursday, May 19th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Wednesday, May 18th. Provident Financial’s dividend payout ratio (DPR) is currently 42.42%.

A number of hedge funds and other institutional investors have recently made changes to their positions in PROV. Federated Hermes Inc. raised its position in Provident Financial by 7.9% during the first quarter. Federated Hermes Inc. now owns 30,459 shares of the financial services provider’s stock worth $504,000 after acquiring an additional 2,234 shares during the period. Geode Capital Management LLC raised its position in shares of Provident Financial by 16.5% in the third quarter. Geode Capital Management LLC now owns 38,253 shares of the financial services provider’s stock valued at $653,000 after buying an additional 5,408 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Provident Financial by 4.8% in the third quarter. BlackRock Inc. now owns 296,241 shares of the financial services provider’s stock valued at $4,992,000 after purchasing an additional 13,440 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Provident Financial by 2.9% in the third quarter. The Manufacturers Life Insurance Company now owns 334,254 shares of the financial services provider’s stock valued at $5,632,000 after purchasing an additional 9,488 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Provident Financial by 2.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 343,663 shares of the financial services provider’s stock valued at $5,688,000 after purchasing an additional 9,409 shares during the period. 60.15% of the stock is currently owned by hedge funds and other institutional investors.

Separately, StockNews.com began coverage on shares of Provident Financial in a research note on Friday. They set a “hold” rating for the company.

Provident Financial Company Profile (Get Rating)

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 single-family, multi-family, commercial real estate, construction, mortgage, commercial business, and consumer loans.

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