Dimensional Fund Advisors LP Reduces Holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV)

Dimensional Fund Advisors LP lowered its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 1.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 487,709 shares of the financial services provider’s stock after selling 6,821 shares during the period. Dimensional Fund Advisors LP owned 7.09% of Provident Financial worth $6,096,000 at the end of the most recent quarter.

Separately, Empowered Funds LLC boosted its holdings in shares of Provident Financial by 7.4% during the 1st quarter. Empowered Funds LLC now owns 22,831 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 1,575 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Provident Financial Stock Performance

PROV opened at $14.51 on Wednesday. The stock has a market capitalization of $99.80 million, a PE ratio of 13.95 and a beta of 0.40. Provident Financial Holdings, Inc. has a one year low of $10.16 and a one year high of $15.40. 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 business’s 50 day moving average price is $13.92 and its 200 day moving average price is $13.22.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05. The business had revenue of $15.38 million for the quarter, compared to analyst estimates of $9.57 million. Provident Financial had a return on equity of 5.67% and a net margin of 12.53%. During the same quarter in the prior year, the company posted $0.26 EPS. As a group, equities research analysts expect that Provident Financial Holdings, Inc. will post 1 EPS for the current year.

Provident Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Thursday, August 15th. Provident Financial’s dividend payout ratio (DPR) is presently 53.85%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PROV shares. Piper Sandler boosted their price objective on Provident Financial from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com started coverage on shares of Provident Financial in a report on Sunday, September 15th. They issued a “hold” rating for the company.

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.