StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV – Free Report) in a report released on Thursday. The brokerage issued a hold rating on the financial services provider’s stock.
Separately, Piper Sandler decreased their target price on Provident Financial from $15.00 to $14.00 and set a neutral rating for the company in a research report on Wednesday.
Read Our Latest Report on PROV
Provident Financial Stock Performance
Provident Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th will be given a $0.14 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.36%. Provident Financial’s payout ratio is currently 53.85%.
Institutional Investors Weigh In On Provident Financial
An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. boosted its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV – Free Report) by 4.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 approximately 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 hedge funds and other institutional investors.
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.
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