Federated Hermes Inc. Lowers Stake in Provident Financial Holdings, Inc. (NASDAQ:PROV)

Federated Hermes Inc. trimmed its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 11.5% in the 4th quarter, HoldingsChannel reports. The fund owned 22,844 shares of the financial services provider’s stock after selling 2,954 shares during the quarter. Federated Hermes Inc.’s holdings in Provident Financial were worth $288,000 as of its most recent SEC filing.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Piper Sandler lowered their price objective on Provident Financial from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com started coverage on Provident Financial in a research note on Thursday. They issued a “hold” rating for the company.

Provident Financial Stock Performance

Shares of NASDAQ PROV opened at $12.85 on Friday. The company has a 50 day simple moving average of $13.60 and a two-hundred day simple moving average of $13.02. The stock has a market cap of $89.05 million, a price-to-earnings ratio of 12.36 and a beta of 0.40. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.87. Provident Financial Holdings, Inc. has a 12 month low of $10.16 and a 12 month high of $15.40.

Provident Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.36%. The ex-dividend date is Wednesday, May 15th. Provident Financial’s dividend payout ratio is currently 53.85%.

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.