Provident Financial (NASDAQ:PROV) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.25 and traded as high as $17.00. Provident Financial shares last traded at $16.90, with a volume of 6,243 shares changing hands.

Wall Street Analyst Weigh In

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

Provident Financial Stock Down 0.1%

The business’s fifty day simple moving average is $16.89 and its 200 day simple moving average is $16.25. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.45. The stock has a market cap of $105.63 million, a price-to-earnings ratio of 18.37 and a beta of 0.33.

Provident Financial (NASDAQ:PROV) last released its 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). Provident Financial had a return on equity of 4.77% and a net margin of 10.27%.The business had revenue of $14.57 million for the quarter, compared to analyst estimates of $10.10 million.

Provident Financial Dividend Announcement

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

Hedge Funds Weigh In On Provident Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of Provident Financial by 7.6% in the 1st quarter. Empowered Funds LLC now owns 33,854 shares of the financial services provider’s stock valued at $546,000 after buying an additional 2,400 shares during the period. Bridgeway Capital Management LLC grew its holdings in shares of Provident Financial by 2.8% in 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 buying an additional 1,834 shares during the period. Fourthstone LLC grew its holdings in shares of Provident Financial by 52.6% in the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock valued at $5,603,000 after buying an additional 121,329 shares during the period. Federated Hermes Inc. grew its holdings in shares of Provident Financial by 13.2% in the 4th 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 period. Finally, Susquehanna International Group LLP acquired a new position in shares of Provident Financial in the 3rd quarter valued at $273,000. Institutional investors and hedge funds 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.