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

Key Points

• Provident Financial's stock crossed above its 200-day moving average of $16.04, trading as high as $17.34 and last at $17.11 on the day.
• The company reported quarterly EPS of $0.21 (missed estimates of $0.29) while revenue beat at $14.57M versus $10.10M, and analysts hold a consensus "Hold" with a $16.00 price target below the current share price.
• Provident declared a quarterly dividend of $0.14 (annualized $0.56) implying a 3.3% yield, with a payout ratio of about 60.9% and an ex-dividend date of May 14.

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.04 and traded as high as $17.34. Provident Financial shares last traded at $17.11, with a volume of 7,931 shares.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Provident Financial in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $16.00.

Provident Financial Trading Up 0.5%

The business's fifty day moving average is $16.48 and its 200-day moving average is $16.04. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $109.16 million, a P/E ratio of 18.60 and a beta of 0.34.

Provident Financial (NASDAQ:PROV - Get Free Report) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.08). Provident Financial had a return on equity of 4.76% and a net margin of 10.27%.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 disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Thursday, May 14th. Provident Financial's dividend payout ratio is presently 60.87%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP acquired a new stake in shares of Provident Financial in the third quarter valued at about $273,000. Empowered Funds LLC grew its holdings in 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 purchasing an additional 2,120 shares during the period. Federated Hermes Inc. boosted its position in shares of Provident Financial by 13.2% during the 4th 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 in the last quarter. Bridgeway Capital Management LLC boosted 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 worth $1,060,000 after purchasing an additional 1,834 shares in the last quarter. Finally, Fourthstone LLC grew its stake 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. 71.34% of the stock is owned by institutional investors and hedge funds.

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.

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