M3F Inc. Increases Stake in Provident Financial Holdings, Inc. (PROV)

M3F Inc. increased its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 442,557 shares of the financial services provider’s stock after purchasing an additional 34,554 shares during the quarter. Provident Financial accounts for 6.3% of M3F Inc.’s investment portfolio, making the stock its 4th largest position. M3F Inc. owned approximately 5.89% of Provident Financial worth $6,860,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Provident Financial by 77.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,836 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 3,860 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Provident Financial by 904.6% during the 2nd quarter. Bank of America Corp DE now owns 5,284 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 4,758 shares during the last quarter. Maltese Capital Management LLC acquired a new stake in shares of Provident Financial during the 3rd quarter worth about $458,000. Renaissance Technologies LLC boosted its stake in shares of Provident Financial by 11.4% during the 2nd quarter. Renaissance Technologies LLC now owns 461,706 shares of the financial services provider’s stock worth $8,809,000 after purchasing an additional 47,206 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Provident Financial in the second quarter worth approximately $1,950,000. Institutional investors and hedge funds own 56.12% of the company’s stock.

NASDAQ PROV opened at $19.31 on Thursday. Provident Financial Holdings, Inc. has a one year low of $14.67 and a one year high of $19.78. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.04 and a current ratio of 1.12. The company has a market capitalization of $145.49 million, a P/E ratio of 27.59 and a beta of 0.47.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The firm had revenue of $13.43 million for the quarter, compared to analyst estimates of $13.50 million. Provident Financial had a net margin of 11.15% and a return on equity of 5.72%.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 19th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, February 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.90%. Provident Financial’s dividend payout ratio is currently 80.00%.

Separately, FIG Partners raised shares of Provident Financial from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, February 5th.

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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.

Further Reading: Fundamental Analysis and Individual Investors

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

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