Continental Advisors Lowers stake in Provident Financial Holdings (PROV)

Provident Financial Holdings (PROV) : Continental Advisors reduced its stake in Provident Financial Holdings by 16.49% during the most recent quarter end. The investment management company now holds a total of 338,737 shares of Provident Financial Holdings which is valued at $6,554,561 after selling 66,868 shares in Provident Financial Holdings , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Provident Financial Holdings makes up approximately 2.74% of Continental Advisors’s portfolio.

Other Hedge Funds, Including , Bridgeway Capital Management Inc boosted its stake in PROV in the latest quarter, The investment management firm added 58,410 additional shares and now holds a total of 223,041 shares of Provident Financial Holdings which is valued at $4,315,843. Provident Financial Holdings makes up approx 0.06% of Bridgeway Capital Management Inc’s portfolio.Geode Capital Management boosted its stake in PROV in the latest quarter, The investment management firm added 7,733 additional shares and now holds a total of 36,498 shares of Provident Financial Holdings which is valued at $706,236. Credit Suisse Ag sold out all of its stake in PROV during the most recent quarter. The investment firm sold 30,848 shares of PROV which is valued $596,909.Blackrock Institutional Trust Company N.a. reduced its stake in PROV by selling 34,499 shares or 7.41% in the most recent quarter. The Hedge Fund company now holds 431,052 shares of PROV which is valued at $8,340,856.

Provident Financial Holdings opened for trading at $19.16 and hit $19.32 on the upside on Thursday, eventually ending the session at $19.17, with a gain of 0.37% or 0.07 points. The heightened volatility saw the trading volume jump to 15,803 shares. Company has a market cap of $157 M.

On the company’s financial health, Provident Financial Holdings reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.28.During the same quarter in the previous year, the company posted $0.28 EPS.

Provident Financial Holdings Inc. is a holding company of Provident Savings Bank F.S.B. (the Bank). The Company operates through two segments: Provident Bank and Provident Bank Mortgage. The Company’s Provident Bank offers community banking activities. Provident Bank Mortgage offers mortgage banking activities. The Company’s community banking activities 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 real estate loans. The Company’s mortgage banking activities consist of the origination purchase and sale of mortgage loans secured primarily by single-family residences. The Bank is a financial services company committed to serving consumers and small to mid-sized businesses in the Inland Empire region of Southern California.

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