Provident Financial Holdings, Inc. Forecasted to Post Q3 2019 Earnings of $0.28 Per Share (PROV)
Provident Financial Holdings, Inc. (NASDAQ:PROV) – FIG Partners issued their Q3 2019 earnings estimates for shares of Provident Financial Holdings in a research note issued on Tuesday. FIG Partners analyst T. Coffey expects that the financial services provider will post earnings of $0.28 per share for the quarter. FIG Partners also issued estimates for Provident Financial Holdings’ Q4 2019 earnings at $0.41 EPS.
Provident Financial Holdings (NASDAQ:PROV) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.06). Provident Financial Holdings had a return on equity of 3.96% and a net margin of 7.11%. The firm had revenue of $15.86 million for the quarter, compared to analysts’ expectations of $18.20 million. During the same period last year, the business earned $0.31 earnings per share. COPYRIGHT VIOLATION WARNING: This news story was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://www.watchlistnews.com/provident-financial-holdings-inc-forecasted-to-post-q3-2019-earnings-of-0-28-per-share-prov/1580740.html.
Provident Financial Holdings (NASDAQ PROV) traded down 0.56% during midday trading on Wednesday, hitting $19.51. The stock had a trading volume of 5,178 shares. Provident Financial Holdings has a 52 week low of $17.62 and a 52 week high of $20.66. The stock has a 50-day moving average of $19.20 and a 200-day moving average of $19.06. The firm has a market cap of $150.13 million, a P/E ratio of 30.48 and a beta of -0.02.
Institutional investors have recently modified their holdings of the company. Sei Investments Co. lifted its holdings in shares of Provident Financial Holdings by 89.9% in the second quarter. Sei Investments Co. now owns 8,290 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 3,924 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in shares of Provident Financial Holdings by 10.6% in the second quarter. Nationwide Fund Advisors now owns 11,454 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 1,100 shares in the last quarter. Teachers Advisors LLC lifted its holdings in shares of Provident Financial Holdings by 12.4% in the fourth quarter. Teachers Advisors LLC now owns 11,558 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 1,271 shares in the last quarter. Cigna Investments Inc. New bought a new stake in shares of Provident Financial Holdings in the second quarter valued at about $236,000. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Provident Financial Holdings by 7.5% in the second quarter. TIAA CREF Investment Management LLC now owns 17,150 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 1,195 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 21st were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.88%. This is a positive change from Provident Financial Holdings’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, August 17th. Provident Financial Holdings’s payout ratio is 87.50%.
Provident Financial Holdings announced that its Board of Directors has approved a share repurchase plan on Monday, June 19th that permits the company to repurchase 390,000 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
About Provident Financial Holdings
Provident Financial Holdings, Inc is the holding company of Provident Savings Bank, F.S.B. (the Bank). The Bank is a federally chartered stock savings bank. The Company operates through two segments: Provident Bank and Provident Bank Mortgage (PBM). The Bank’s operations primarily consist of accepting deposits from customers within the communities surrounding the Bank’s full service offices and investing those funds in single-family loans, multi-family loans, commercial real estate loans, construction loans, commercial business loans, consumer loans and other mortgage loans.
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