Provident Financial Holdings, Inc. (NASDAQ:PROV) – Stock analysts at FIG Partners cut their Q1 2018 EPS estimates for Provident Financial Holdings in a report released on Monday. FIG Partners analyst T. Coffey now anticipates that the financial services provider will earn $0.24 per share for the quarter, down from their previous estimate of $0.26. FIG Partners also issued estimates for Provident Financial Holdings’ Q2 2018 earnings at $0.20 EPS, Q3 2018 earnings at $0.21 EPS and Q2 2019 earnings at $0.22 EPS.
Provident Financial Holdings (NASDAQ:PROV) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.06. The company had revenue of $15.86 million for the quarter, compared to the consensus estimate of $18.20 million. Provident Financial Holdings had a return on equity of 3.93% and a net margin of 7.11%. During the same period in the previous year, the firm posted $0.31 EPS.
Separately, Hovde Group initiated coverage on shares of Provident Financial Holdings in a research note on Tuesday, April 11th. They issued a “market perform” rating and a $20.00 target price on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.00.
Provident Financial Holdings (NASDAQ PROV) traded up 0.26% during mid-day trading on Tuesday, hitting $19.05. 735 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $19.29 and its 200-day moving average price is $18.96. Provident Financial Holdings has a 12 month low of $17.67 and a 12 month high of $20.66. The stock has a market cap of $150.32 million and a PE ratio of 22.79.
Provident Financial Holdings announced that its board has authorized a stock buyback plan on Monday, June 19th that authorizes the company to buyback 390,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, Director Debbi Guthrie sold 5,600 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $19.10, for a total transaction of $106,960.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 15.71% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Teachers Advisors LLC boosted its stake in Provident Financial Holdings by 12.4% in the fourth quarter. Teachers Advisors LLC now owns 11,558 shares of the financial services provider’s stock valued at $234,000 after buying an additional 1,271 shares during the period. Martingale Asset Management L P boosted its stake in Provident Financial Holdings by 5.1% in the first quarter. Martingale Asset Management L P now owns 28,703 shares of the financial services provider’s stock valued at $536,000 after buying an additional 1,400 shares during the period. Bank of New York Mellon Corp boosted its stake in Provident Financial Holdings by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 59,064 shares of the financial services provider’s stock valued at $1,102,000 after buying an additional 1,702 shares during the period. Sei Investments Co. boosted its stake in Provident Financial Holdings by 89.9% in the second quarter. Sei Investments Co. now owns 8,290 shares of the financial services provider’s stock valued at $160,000 after buying an additional 3,924 shares during the period. Finally, First Quadrant L P CA boosted its stake in Provident Financial Holdings by 26.1% in the second quarter. First Quadrant L P CA now owns 20,199 shares of the financial services provider’s stock valued at $389,000 after buying an additional 4,180 shares during the period. Hedge funds and other institutional investors own 58.03% of the company’s stock.
Provident Financial Holdings Company Profile
Provident Financial Holdings, Inc is the holding company of Provident Savings Bank, F.S.B. (the Bank). The Bank is a federally chartered stock savings bank. The Company operates through two segments: Provident Bank and Provident Bank Mortgage (PBM). The Bank’s operations primarily consist of accepting deposits from customers within the communities surrounding the Bank’s full service offices and investing those funds in single-family loans, multi-family loans, commercial real estate loans, construction loans, commercial business loans, consumer loans and other mortgage loans.
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