Northern Trust Corp Boosts Stake in Provident Financial Holdings, Inc. (PROV)

Northern Trust Corp boosted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,595 shares of the financial services provider’s stock after buying an additional 2,387 shares during the quarter. Northern Trust Corp owned approximately 0.97% of Provident Financial worth $1,436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Provident Financial by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 655,392 shares of the financial services provider’s stock valued at $12,223,000 after buying an additional 12,769 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Provident Financial by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 166,280 shares of the financial services provider’s stock valued at $3,201,000 after buying an additional 900 shares during the last quarter. M3F Inc. raised its holdings in Provident Financial by 138.7% in the 2nd quarter. M3F Inc. now owns 127,407 shares of the financial services provider’s stock valued at $2,453,000 after buying an additional 74,027 shares during the last quarter. Federated Investors Inc. PA raised its holdings in Provident Financial by 6.9% in the 2nd quarter. Federated Investors Inc. PA now owns 72,239 shares of the financial services provider’s stock valued at $1,391,000 after buying an additional 4,674 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in Provident Financial by 7.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 17,150 shares of the financial services provider’s stock valued at $330,000 after buying an additional 1,195 shares during the last quarter. Institutional investors and hedge funds own 60.16% of the company’s stock.

Provident Financial Holdings, Inc. (NASDAQ PROV) opened at $19.40 on Tuesday. The stock has a market cap of $146.10, a P/E ratio of 31.48 and a beta of -0.01. Provident Financial Holdings, Inc. has a fifty-two week low of $17.62 and a fifty-two week high of $20.35. The company has a quick ratio of 1.01, a current ratio of 1.15 and a debt-to-equity ratio of 0.97.

Provident Financial (NASDAQ:PROV) last released its earnings results on Thursday, October 26th. The financial services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The firm had revenue of $15.47 million for the quarter, compared to analyst estimates of $16.70 million. Provident Financial had a net margin of 4.82% and a return on equity of 3.84%. During the same period in the prior year, the company posted $0.20 EPS.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, November 13th. Provident Financial’s dividend payout ratio is presently 136.59%.

In other Provident Financial news, Director Roy Taylor sold 10,212 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $19.03, for a total transaction of $194,334.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Lilian Brunner-Salter sold 9,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $19.17, for a total transaction of $172,530.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,382 shares of company stock valued at $389,126 in the last three months. Insiders own 12.74% of the company’s stock.

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Provident Financial 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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Institutional Ownership by Quarter for Provident Financial (NASDAQ:PROV)

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