Renaissance Technologies LLC Sells 5,500 Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV)

Renaissance Technologies LLC reduced its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,047 shares of the financial services provider’s stock after selling 5,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Provident Financial were worth $3,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Empowered Funds LLC increased its stake in Provident Financial by 7.4% in the 1st quarter. Empowered Funds LLC now owns 22,831 shares of the financial services provider’s stock worth $305,000 after buying an additional 1,575 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PROV has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on Provident Financial from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com started coverage on Provident Financial in a research note on Sunday, September 15th. They issued a “hold” rating for the company.

Provident Financial Stock Up 0.1 %

PROV opened at $14.39 on Monday. The company has a market capitalization of $98.72 million, a PE ratio of 13.84 and a beta of 0.40. The firm has a 50-day simple moving average of $13.76 and a two-hundred day simple moving average of $13.20. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.84. Provident Financial Holdings, Inc. has a 52 week low of $10.16 and a 52 week high of $15.40.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. Provident Financial had a return on equity of 5.67% and a net margin of 12.53%. The business had revenue of $15.38 million during the quarter, compared to analysts’ expectations of $9.57 million. During the same quarter last year, the business posted $0.26 EPS. Analysts forecast that Provident Financial Holdings, Inc. will post 1 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 15th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date was Thursday, August 15th. Provident Financial’s payout ratio is 53.85%.

About Provident Financial

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.