Short Interest in Provident Financial Holdings, Inc. (NASDAQ:PROV) Declines By 22.0%

Provident Financial Holdings, Inc. (NASDAQ:PROVGet Free Report) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 26,900 shares, a decrease of 22.0% from the April 30th total of 34,500 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 4,400 shares, the short-interest ratio is presently 6.1 days.

Provident Financial Price Performance

Shares of NASDAQ:PROV traded down $0.01 during midday trading on Friday, reaching $12.70. 916 shares of the company’s stock traded hands, compared to its average volume of 4,039. The company has a fifty day simple moving average of $13.04 and a two-hundred day simple moving average of $13.15. Provident Financial has a 1 year low of $10.16 and a 1 year high of $15.40. The company has a market cap of $87.38 million, a P/E ratio of 12.21 and a beta of 0.40. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.21 and a current ratio of 1.21.

Provident Financial (NASDAQ:PROVGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). The company had revenue of $9.41 million for the quarter, compared to analysts’ expectations of $9.72 million. Provident Financial had a net margin of 12.57% and a return on equity of 5.56%. Equities analysts predict that Provident Financial will post 0.99 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 16th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.41%. The ex-dividend date is Wednesday, May 15th. Provident Financial’s payout ratio is 53.85%.

Hedge Funds Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Federated Hermes Inc. boosted its position in Provident Financial Holdings, Inc. (NASDAQ:PROVFree Report) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,798 shares of the financial services provider’s stock after purchasing an additional 1,173 shares during the quarter. Federated Hermes Inc. owned about 0.37% of Provident Financial worth $338,000 at the end of the most recent reporting period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on PROV. Piper Sandler dropped their price target on shares of Provident Financial from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. StockNews.com assumed coverage on Provident Financial in a research note on Sunday, May 26th. They issued a “hold” rating for the company.

Get Our Latest Research Report on PROV

Provident Financial Company Profile

(Get Free Report)

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.

Further Reading

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