Provident Financial (NASDAQ:PROV) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.59 and traded as high as $17.34. Provident Financial shares last traded at $17.20, with a volume of 3,199 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Provident Financial in a research report on Tuesday, April 21st. Zacks Research upgraded shares of Provident Financial to a “hold” rating in a report on Monday, June 29th. Finally, Piper Sandler initiated coverage on shares of Provident Financial in a research report on Friday, June 26th. They issued a “neutral” rating and a $17.00 price target on the stock. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Provident Financial Price Performance

The company has a market cap of $107.50 million, a P/E ratio of 18.70 and a beta of 0.33. The business’s fifty day moving average is $17.08 and its 200 day moving average is $16.59. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.45.

Provident Financial (NASDAQ:PROV) last issued 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 firm had revenue of $14.57 million for the quarter, compared to analysts’ expectations of $10.10 million. Provident Financial had a net margin of 10.27% and a return on equity of 4.77%. As a group, sell-side analysts anticipate that Provident Financial Holdings, Inc. will post 0.96 EPS for the current year.

Provident Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Thursday, May 14th. Provident Financial’s payout ratio is currently 60.87%.

Insider Buying and Selling at Provident Financial

In related news, SVP David Weiant sold 2,732 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.12, for a total transaction of $46,771.84. Following the sale, the senior vice president directly owned 6,175 shares in the company, valued at approximately $105,716. The trade was a 30.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 4,744 shares of company stock valued at $81,076 in the last three months. 11.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Provident Financial

Several hedge funds have recently bought and sold shares of PROV. Empowered Funds LLC grew its position in shares of Provident Financial by 7.6% during the 1st quarter. Empowered Funds LLC now owns 33,854 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 2,400 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of Provident Financial by 2.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 1,834 shares during the last quarter. Fourthstone LLC raised its stake in shares of 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 acquiring an additional 121,329 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of 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 acquiring an additional 3,459 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new stake in shares of Provident Financial in the 3rd quarter worth approximately $273,000. 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.