Wall Street brokerages expect Provident Financial Holdings, Inc. (NASDAQ:PROV) to announce $11.05 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Provident Financial’s earnings, with estimates ranging from $11.00 million to $11.10 million. Provident Financial posted sales of $12.66 million in the same quarter last year, which suggests a negative year-over-year growth rate of 12.7%. The company is expected to issue its next quarterly earnings report on Monday, May 4th.
According to Zacks, analysts expect that Provident Financial will report full-year sales of $43.70 million for the current financial year. For the next year, analysts expect that the company will report sales of $44.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Provident Financial.
Provident Financial (NASDAQ:PROV) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). The firm had revenue of $10.98 million during the quarter, compared to analyst estimates of $11.10 million. Provident Financial had a net margin of 10.97% and a return on equity of 4.59%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System boosted its holdings in shares of Provident Financial by 5.8% during the third quarter. California Public Employees Retirement System now owns 56,615 shares of the financial services provider’s stock worth $1,175,000 after purchasing an additional 3,100 shares during the period. State Street Corp boosted its holdings in shares of Provident Financial by 8.5% during the third quarter. State Street Corp now owns 78,761 shares of the financial services provider’s stock worth $1,634,000 after purchasing an additional 6,147 shares during the period. Barclays PLC boosted its holdings in shares of Provident Financial by 99.2% during the fourth quarter. Barclays PLC now owns 5,969 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 2,972 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Provident Financial by 73.4% during the fourth quarter. Panagora Asset Management Inc. now owns 27,565 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 11,669 shares during the period. Finally, Citigroup Inc. boosted its holdings in shares of Provident Financial by 699.3% during the fourth quarter. Citigroup Inc. now owns 1,175 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,028 shares during the period. Hedge funds and other institutional investors own 59.59% of the company’s stock.
PROV stock traded down $1.59 during mid-day trading on Thursday, reaching $14.16. 6,102 shares of the company traded hands, compared to its average volume of 16,261. The stock has a market cap of $117.86 million, a price-to-earnings ratio of 21.88 and a beta of 0.63. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.06. Provident Financial has a fifty-two week low of $12.00 and a fifty-two week high of $22.99. The firm’s 50 day moving average price is $18.82 and its 200 day moving average price is $20.68.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 18th were paid a $0.14 dividend. The ex-dividend date was Friday, February 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.95%. Provident Financial’s payout ratio is presently 96.55%.
About Provident Financial
Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community and mortgage banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. It operates through two segments, Provident Bank and Provident Bank Mortgage.
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