Provident Financial Holdings, Inc. (NASDAQ:PROV) Short Interest Down 19.4% in November

Provident Financial Holdings, Inc. (NASDAQ:PROV) saw a significant decline in short interest in November. As of November 29th, there was short interest totalling 39,000 shares, a decline of 19.4% from the November 14th total of 48,400 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 9,900 shares, the days-to-cover ratio is presently 3.9 days.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in shares of Provident Financial by 2.8% in the second quarter. Russell Investments Group Ltd. now owns 20,133 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 545 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Provident Financial by 0.9% in the second quarter. Vanguard Group Inc. now owns 287,699 shares of the financial services provider’s stock valued at $6,039,000 after purchasing an additional 2,638 shares in the last quarter. California Public Employees Retirement System boosted its stake in Provident Financial by 5.8% during the third quarter. California Public Employees Retirement System now owns 56,615 shares of the financial services provider’s stock valued at $1,175,000 after buying an additional 3,100 shares during the period. Northern Trust Corp boosted its stake in Provident Financial by 23.4% during the second quarter. Northern Trust Corp now owns 21,869 shares of the financial services provider’s stock valued at $459,000 after buying an additional 4,150 shares during the period. Finally, State Street Corp boosted its stake in Provident Financial by 8.5% during the third quarter. State Street Corp now owns 78,761 shares of the financial services provider’s stock valued at $1,634,000 after buying an additional 6,147 shares during the period. Institutional investors own 59.35% of the company’s stock.

Shares of NASDAQ PROV traded up $0.31 during mid-day trading on Friday, hitting $22.81. The company had a trading volume of 7,476 shares, compared to its average volume of 7,416. The company has a market capitalization of $166.82 million, a price-to-earnings ratio of 39.33 and a beta of 0.52. Provident Financial has a 1 year low of $14.67 and a 1 year high of $22.83. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.07. The stock’s 50-day moving average price is $21.35 and its 200-day moving average price is $20.78.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). The company had revenue of $10.65 million during the quarter, compared to analysts’ expectations of $10.80 million. Provident Financial had a net margin of 9.64% and a return on equity of 4.24%.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 20th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Tuesday, November 19th. Provident Financial’s dividend payout ratio (DPR) is presently 96.55%.

Provident Financial Company Profile

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.

Read More: Fiduciary

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