Renaissance Technologies LLC boosted its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 394,723 shares of the financial services provider’s stock after buying an additional 19,023 shares during the period. Renaissance Technologies LLC owned 5.28% of Provident Financial worth $7,263,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of PROV. State Street Corp lifted its holdings in Provident Financial by 11.8% in the second quarter. State Street Corp now owns 93,510 shares of the financial services provider’s stock worth $1,801,000 after buying an additional 9,890 shares during the period. Macquarie Group Ltd. purchased a new stake in Provident Financial in the third quarter worth about $194,000. JPMorgan Chase & Co. lifted its holdings in Provident Financial by 66.3% in the third quarter. JPMorgan Chase & Co. now owns 85,161 shares of the financial services provider’s stock worth $1,671,000 after buying an additional 33,951 shares during the period. Wells Fargo & Company MN lifted its holdings in Provident Financial by 69.5% in the third quarter. Wells Fargo & Company MN now owns 6,692 shares of the financial services provider’s stock worth $132,000 after buying an additional 2,744 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Provident Financial by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 348,190 shares of the financial services provider’s stock worth $6,407,000 after buying an additional 5,035 shares during the period. Institutional investors and hedge funds own 60.51% of the company’s stock.
In other news, Chairman Craig G. Blunden sold 17,000 shares of Provident Financial stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $18.35, for a total transaction of $311,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Weiant sold 3,000 shares of Provident Financial stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $18.06, for a total transaction of $54,180.00. The disclosure for this sale can be found here. Insiders have sold 35,000 shares of company stock valued at $639,880 over the last quarter. Company insiders own 12.74% of the company’s stock.
Several brokerages have commented on PROV. Hovde Group set a $20.00 price objective on shares of Provident Financial and gave the stock a “hold” rating in a report on Monday, February 5th. TheStreet lowered shares of Provident Financial from a “b-” rating to a “c+” rating in a report on Friday, February 2nd. Finally, Sandler O’Neill reiterated a “hold” rating and set a $19.00 target price on shares of Provident Financial in a report on Wednesday, January 31st.
PROV stock opened at $18.14 on Thursday. Provident Financial Holdings, Inc. has a 52-week low of $17.62 and a 52-week high of $20.35. The company has a market cap of $137.14, a PE ratio of 28.70 and a beta of 0.05. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.92.
Provident Financial (NASDAQ:PROV) last released its earnings results on Monday, January 29th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. Provident Financial had a net margin of 1.63% and a return on equity of 3.94%. The firm had revenue of $14.49 million during the quarter, compared to analyst estimates of $15.40 million. During the same period last year, the business earned $0.18 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, February 16th. This represents a $0.56 annualized dividend and a dividend yield of 3.09%. Provident Financial’s payout ratio is 87.50%.
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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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