Provident Financial Holdings, Inc. (NASDAQ: PROV) Expected to Post Quarterly Sales of $ 9.00 Million
Stock analysts expect Provident Financial Holdings, Inc. (NASDAQ: PROV) to report revenue of $ 9.00 million for the current fiscal quarter, according to Zacks. Two analysts have released earnings estimates for Provident Financial. The highest sales estimate is $ 9.10 million and the lowest is $ 8.90 million. Provident Financial reported sales of $ 8.61 million in the same quarter last year, indicating a positive growth rate of 4.5% year-over-year. The company is expected to announce its next quarterly results on Wednesday, January 26.
On average, analysts expect Provident Financial to report annual sales of $ 0.00 for the current fiscal year. For next year, analysts predict the company will post sales of $ 0.00. Zacks sales averages are an average based on a survey of analysts who follow Provident Financial.
Provident Financial (NASDAQ: PROV) last reported its results on Tuesday, October 26. The financial services provider reported earnings per share (EPS) of $ 0.35 for the quarter, beating the consensus estimate of $ 0.21 by $ 0.14. Provident Financial posted a return on equity of 6.91% and a net margin of 22.47%. The company posted revenue of $ 8.96 million in the quarter, compared to analysts’ estimates of $ 8.85 million. During the same period last year, the company posted $ 0.20 in EPS.
In addition, TheStreet raised Provident Financial from a “c +” rating to a “b-” rating in a research report published on Thursday, October 7. One stock research analyst rated the stock with a sell rating and three gave the stock a conservation rating. According to MarketBeat data, the stock currently has an average rating of “Hold” and an average price target of $ 17.00.
Provident Financial shares opened at $ 16.44 on Wednesday. Provident Financial has a one-year minimum of $ 14.50 and a one-year maximum of $ 18.48. The company has a market cap of $ 122.53 million, a PE ratio of 14.17 and a beta of 0.60. The stock has a fifty-day moving average price of $ 16.80 and a 200-day moving average price of $ 16.97. The company has a debt to equity ratio of 0.70, a current ratio of 0.98, and a rapid ratio of 0.98.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 9. Investors of record on Thursday, November 18 received a dividend of $ 0.14. This represents an annualized dividend of $ 0.56 and a return of 3.41%. The ex-dividend date was Wednesday, November 17. Provident Financial’s dividend payout ratio (DPR) is currently 48.28%.
A number of hedge funds and other institutional investors have recently changed their holdings to PROV. FJ Capital Management LLC increased its stake in Provident Financial by 35.3% in the 2nd quarter. FJ Capital Management LLC now owns 514,000 shares of the financial services provider valued at $ 8,885,000 after purchasing an additional 134,200 shares during the period. Susquehanna Fundamental Investments LLC purchased a new equity stake in Provident Financial during the second quarter for a value of approximately $ 354,000. Ergoteles LLC purchased a new equity stake in Provident Financial during the second quarter valued at approximately $ 349,000. The Manufacturers Life Insurance Company increased its position in Provident Financial shares by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 324,766 shares of the financial services provider valued at $ 5,609,000 after acquiring an additional 14,075 shares during the last quarter. Finally, the Royal Bank of Canada increased its position in Provident Financial shares by 8.6% during the second quarter. Royal Bank of Canada now owns 16,268 shares of the financial services provider valued at $ 281,000 after acquiring an additional 1,292 shares in the last quarter. Institutional investors and hedge funds hold 60.76% of the shares of the company.
Profile of the financial provident company
Provident Financial Holdings, Inc is engaged in the provision of financial services. Its services include audits, savings, investment services, mobile banking, online banking, merchant services, cybersecurity advice, and loan programs and applications. The company was founded in January 1996 and is headquartered in Riverside, California.
Further reading: What is a conference call?
Get a Free Copy of Zacks’ Research Report on Provident Financial (PROV)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]
Should you invest $ 1,000 in Provident Financial now?
Before you consider Provident Financial, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and Provident Financial was not on the list.
Although Provident Financial currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here