Vanguard Group Inc. Cuts Holdings in Provident Financial Holdings, Inc. (PROV)

Vanguard Group Inc. cut its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,835 shares of the financial services provider’s stock after selling 9,741 shares during the period. Vanguard Group Inc. owned about 3.61% of Provident Financial worth $5,368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PROV. Sei Investments Co. boosted its position in Provident Financial by 89.9% in the 2nd quarter. Sei Investments Co. now owns 8,290 shares of the financial services provider’s stock valued at $160,000 after buying an additional 3,924 shares during the last quarter. Nationwide Fund Advisors lifted its stake in shares of Provident Financial by 10.6% in the 2nd 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 during the period. Cigna Investments Inc. New acquired a new position in shares of Provident Financial in the 2nd quarter valued at $236,000. TIAA CREF Investment Management LLC lifted its stake in shares of Provident Financial by 7.5% in the 2nd 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 during the period. Finally, Federated Investors Inc. PA lifted its stake in shares of Provident Financial by 6.9% in the 2nd quarter. Federated Investors Inc. PA now owns 72,239 shares of the financial services provider’s stock valued at $1,391,000 after purchasing an additional 4,674 shares during the period. Institutional investors and hedge funds own 60.16% of the company’s stock.

In related news, SVP Lilian Brunner-Salter sold 9,000 shares of Provident Financial stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $19.17, for a total transaction of $172,530.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roy Taylor sold 10,212 shares of Provident Financial stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $19.03, for a total value of $194,334.36. The disclosure for this sale can be found here. Insiders sold a total of 20,382 shares of company stock worth $389,126 in the last three months. Company insiders own 12.74% of the company’s stock.

Provident Financial Holdings, Inc. (NASDAQ PROV) traded down $0.30 during mid-day trading on Friday, hitting $18.85. The stock had a trading volume of 12,072 shares, compared to its average volume of 15,214. The firm has a market cap of $143.44, a P/E ratio of 30.90 and a beta of -0.01. Provident Financial Holdings, Inc. has a one year low of $17.62 and a one year high of $20.35. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.15.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). Provident Financial had a return on equity of 3.84% and a net margin of 4.82%. The business had revenue of $15.47 million for the quarter, compared to analyst estimates of $16.70 million. During the same period in the previous year, the business posted $0.20 EPS.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Monday, November 13th. Provident Financial’s dividend payout ratio is 136.59%.

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About Provident Financial

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.

Institutional Ownership by Quarter for Provident Financial (NASDAQ:PROV)

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