Provident Financial (NASDAQ:PROV) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Provident Financial Holdings, Inc. (NASDAQ:PROV) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.18 and traded as high as $17.39. Provident Financial shares last traded at $17.20, with a volume of 6,440 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Provident Financial in a research note on Tuesday, April 21st. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Provident Financial presently has a consensus rating of “Hold” and an average price target of $16.00.

Provident Financial Trading Down 0.2%

The company has a debt-to-equity ratio of 1.45, a current ratio of 1.20 and a quick ratio of 1.20. The company’s 50 day moving average is $16.77 and its two-hundred day moving average is $16.18. The firm has a market cap of $107.50 million, a P/E ratio of 18.70 and a beta of 0.34.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The business had revenue of $14.57 million for the quarter, compared to the consensus estimate of $10.10 million. Provident Financial had a return on equity of 4.77% and a net margin of 10.27%.

Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, May 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.3%. Provident Financial’s dividend payout ratio (DPR) is currently 60.87%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP bought a new position in Provident Financial during the third quarter worth about $273,000. Empowered Funds LLC lifted its stake in Provident Financial by 7.9% during the first quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 2,120 shares during the period. Federated Hermes Inc. lifted its stake in Provident Financial by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 3,459 shares during the period. Bridgeway Capital Management LLC lifted its stake in Provident Financial by 2.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 1,834 shares during the period. Finally, Fourthstone LLC lifted its stake in Provident Financial by 52.6% during the fourth quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after purchasing an additional 121,329 shares during the period. Institutional investors own 71.34% of the company’s stock.

About Provident Financial

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.