Provident Financial (NASDAQ:PROV) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.38 and traded as high as $17.15. Provident Financial shares last traded at $17.09, with a volume of 4,762 shares trading hands.

Analysts Set New Price Targets

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

Provident Financial Stock Up 0.4%

The firm has a market capitalization of $106.81 million, a PE ratio of 18.58 and a beta of 0.33. 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 has a 50-day moving average price of $17.05 and a 200 day moving average price of $16.38.

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

Provident Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, May 14th. Provident Financial’s payout ratio is 60.87%.

Insider Buying and Selling at Provident Financial

In related news, SVP David Weiant sold 2,732 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $17.12, for a total transaction of $46,771.84. Following the completion of the transaction, the senior vice president directly owned 6,175 shares of the company’s stock, valued at approximately $105,716. This trade represents a 30.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 4,744 shares of company stock worth $81,076 in the last three months. 11.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Provident Financial

Hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP bought a new position in shares of Provident Financial during the 3rd quarter valued at about $273,000. Empowered Funds LLC lifted its position in shares of Provident Financial by 7.9% in the first quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after buying an additional 2,120 shares in the last quarter. Federated Hermes Inc. boosted 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 valued at $472,000 after buying an additional 3,459 shares during the last quarter. Bridgeway Capital Management LLC boosted 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 valued at $1,060,000 after buying an additional 1,834 shares during the last quarter. Finally, Fourthstone LLC increased its stake in Provident Financial by 52.6% in the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after acquiring an additional 121,329 shares during the last quarter. Hedge funds and other 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.