Provident Financial (NASDAQ:PROV) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $15.66 and traded as high as $16.45. Provident Financial shares last traded at $15.98, with a volume of 11,886 shares.

Wall Street Analyst Weigh In

PROV has been the topic of several recent research reports. Piper Sandler cut their price objective on shares of Provident Financial from $16.50 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Provident Financial in a report on Thursday, January 22nd. Finally, Zacks Research upgraded Provident Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

Provident Financial Price Performance

The business’s 50-day simple moving average is $15.98 and its 200 day simple moving average is $15.66. The company has a market capitalization of $103.45 million, a P/E ratio of 16.14 and a beta of 0.32. The company has a current ratio of 1.24, a quick ratio of 1.23 and a debt-to-equity ratio of 1.67.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08). Provident Financial had a net margin of 10.97% and a return on equity of 5.14%. The company had revenue of $14.87 million for the quarter, compared to analyst estimates of $10.10 million. As a group, sell-side analysts anticipate that Provident Financial Holdings, Inc. will post 0.9 EPS for the current year.

Provident Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 12th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, February 12th. This represents a $0.56 annualized dividend and a dividend yield of 3.5%. Provident Financial’s dividend payout ratio (DPR) is 56.57%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PROV. Fourthstone LLC boosted its holdings in Provident Financial by 31.4% during the second quarter. Fourthstone LLC now owns 115,210 shares of the financial services provider’s stock worth $1,786,000 after buying an additional 27,556 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Provident Financial during the 3rd quarter valued at $273,000. Finally, Empowered Funds LLC boosted its stake in shares of Provident Financial by 7.9% during the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 2,120 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Provident Financial Company Profile

Provident Financial Services, Inc (NASDAQ: PROV) is a bank holding company headquartered in Jersey City, New Jersey, that conducts its operations through its wholly owned subsidiary, Provident Bank. With origins dating back to 1839, the company has grown into a full-service financial institution offering a broad spectrum of products and services to individuals, small businesses and commercial clients.

The company’s principal business activities include retail banking, commercial lending, mortgage finance and wealth management.