Craig G. Blunden Sells 1,059 Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) Stock

Provident Financial Holdings, Inc. (NASDAQ:PROV) Chairman Craig G. Blunden sold 1,059 shares of Provident Financial stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $15.57, for a total transaction of $16,488.63. Following the completion of the sale, the chairman now directly owns 243,642 shares in the company, valued at approximately $3,793,505.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Provident Financial Stock Performance

NASDAQ PROV traded up $0.03 during trading on Friday, hitting $15.60. 592 shares of the company’s stock traded hands, compared to its average volume of 6,952. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $105.61 million, a price-to-earnings ratio of 14.28 and a beta of 0.40. Provident Financial Holdings, Inc. has a 12-month low of $10.16 and a 12-month high of $15.91. The business has a 50 day moving average of $14.52 and a 200-day moving average of $13.39.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Provident Financial had a net margin of 12.58% and a return on equity of 5.77%. The company had revenue of $14.97 million for the quarter, compared to analysts’ expectations of $9.74 million. During the same period in the prior year, the company posted $0.25 EPS. As a group, equities research analysts anticipate that Provident Financial Holdings, Inc. will post 1.05 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, November 14th. Provident Financial’s payout ratio is currently 51.38%.

Institutional Trading of Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC raised its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,831 shares of the financial services provider’s stock after buying an additional 1,575 shares during the quarter. Empowered Funds LLC owned about 0.33% of Provident Financial worth $305,000 at the end of the most recent reporting period. 71.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Piper Sandler raised their price target on shares of Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com initiated coverage on Provident Financial in a research report on Wednesday. They issued a “hold” rating for the company.

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. 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.