Ameriprise Financial Inc. Has $4.58 Million Position in Provident Financial Holdings, Inc. (NASDAQ:PROV)

Ameriprise Financial Inc. lessened its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 287,615 shares of the financial services provider’s stock after selling 2,065 shares during the quarter. Ameriprise Financial Inc. owned approximately 4.25% of Provident Financial worth $4,576,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PROV. The Manufacturers Life Insurance Company increased its stake in Provident Financial by 7.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock valued at $5,326,000 after acquiring an additional 23,117 shares during the period. Fourthstone LLC increased its position in Provident Financial by 30.5% in the 4th quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider’s stock valued at $1,433,000 after acquiring an additional 21,030 shares in the last quarter. Northern Trust Corp lifted its holdings in Provident Financial by 25.9% during the 4th quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock worth $421,000 after buying an additional 5,445 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Provident Financial by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider’s stock worth $7,737,000 after purchasing an additional 1,342 shares during the period. Finally, Empowered Funds LLC boosted its stake in Provident Financial by 5.1% in the fourth quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider’s stock valued at $429,000 after acquiring an additional 1,307 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Provident Financial Price Performance

Shares of NASDAQ PROV opened at $14.96 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.91. Provident Financial Holdings, Inc. has a twelve month low of $12.01 and a twelve month high of $16.70. The business’s 50 day moving average price is $14.61 and its two-hundred day moving average price is $15.29. The company has a market cap of $100.10 million, a PE ratio of 16.44 and a beta of 0.33.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $10.12 million for the quarter, compared to analyst estimates of $9.86 million. Provident Financial had a net margin of 10.39% and a return on equity of 4.81%. On average, analysts predict that Provident Financial Holdings, Inc. will post 0.9 EPS for the current year.

Provident Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.74%. Provident Financial’s payout ratio is presently 57.73%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen started coverage on shares of Provident Financial in a research note on Wednesday, May 21st. They set a “hold” rating on the stock. Piper Sandler reduced their price objective on shares of Provident Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th.

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.