Provident Financial Holdings, Inc. (NASDAQ:PROV) – Research analysts at FIG Partners upped their Q4 2018 earnings per share estimates for shares of Provident Financial Holdings in a research note issued to investors on Monday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings of $0.36 per share for the quarter, up from their prior estimate of $0.30. FIG Partners also issued estimates for Provident Financial Holdings’ Q1 2019 earnings at $0.29 EPS.

Separately, Hovde Group started coverage on shares of Provident Financial Holdings in a report on Tuesday, April 11th. They set a “market perform” rating and a $20.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.00.

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Shares of Provident Financial Holdings (PROV) traded up 0.05% during mid-day trading on Wednesday, reaching $19.12. The company’s stock had a trading volume of 7,358 shares. The firm has a market cap of $150.88 million and a PE ratio of 22.87. Provident Financial Holdings has a one year low of $17.67 and a one year high of $20.66. The firm’s 50 day moving average is $19.25 and its 200 day moving average is $18.96.

Provident Financial Holdings (NASDAQ:PROV) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by $0.06. Provident Financial Holdings had a net margin of 7.11% and a return on equity of 3.93%. The business had revenue of $15.86 million for the quarter, compared to analysts’ expectations of $18.20 million. During the same quarter in the prior year, the business posted $0.31 earnings per share.

Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in Provident Financial Holdings during the fourth quarter valued at approximately $760,000. State Street Corp raised its stake in Provident Financial Holdings by 28.4% in the fourth quarter. State Street Corp now owns 82,420 shares of the financial services provider’s stock valued at $1,667,000 after buying an additional 18,207 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Provident Financial Holdings by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 642,623 shares of the financial services provider’s stock valued at $12,994,000 after buying an additional 7,449 shares during the last quarter. Teachers Advisors LLC raised its stake in 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 buying an additional 1,271 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Provident Financial Holdings by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 59,064 shares of the financial services provider’s stock valued at $1,102,000 after buying an additional 1,702 shares during the last quarter. 58.03% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Debbi Guthrie sold 5,600 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $19.10, for a total transaction of $106,960.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.71% of the stock is owned by insiders.

Provident Financial Holdings announced that its board has approved a stock repurchase plan on Monday, June 19th that allows the company to repurchase 390,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 21st will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, August 17th. This is a positive change from Provident Financial Holdings’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.93%. Provident Financial Holdings’s payout ratio is 81.25%.

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.

Earnings History and Estimates for Provident Financial Holdings (NASDAQ:PROV)

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