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

Key Points

• The stock price of Provident Financial has surpassed its 200-day moving average, trading at $15.59 with a high of $15.75.
• Provident Financial reported an earnings per share (EPS) of $0.24 for the latest quarter, missing the analyst consensus of $0.29 by ($0.05).
• The company announced a quarterly dividend of $0.14 per share, reflecting an annualized yield of 3.6% and a payout ratio of 60.22%.

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.07 and traded as high as $15.75. Provident Financial shares last traded at $15.59, with a volume of 11,164 shares traded.

Analyst Upgrades and Downgrades

PROV has been the subject of several recent research reports. Wall Street Zen initiated coverage on shares of Provident Financial in a research note on Wednesday, May 21st. They issued a "hold" rating for the company. Piper Sandler raised shares of Provident Financial to a "neutral" rating and set a $16.50 price objective for the company in a research note on Monday, July 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $16.50.

Provident Financial Trading Up 1.0%

The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.22 and a current ratio of 1.22. The stock's 50-day simple moving average is $15.43 and its 200-day simple moving average is $15.08. The firm has a market capitalization of $103.37 million, a PE ratio of 16.89 and a beta of 0.39.

Provident Financial (NASDAQ:PROV - Get Free Report) last released its earnings results on Monday, July 28th. The financial services provider reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.05). The business had revenue of $9.76 million during the quarter, compared to analysts' expectations of $10.50 million. Provident Financial had a return on equity of 4.85% and a net margin of 10.40%.During the same period in the prior year, the company earned $0.28 earnings per share. As a group, sell-side analysts expect that Provident Financial Holdings, Inc. will post 0.9 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Thursday, August 14th. Provident Financial's dividend payout ratio is 60.22%.

Hedge Funds Weigh In On Provident Financial

Institutional investors have recently made changes to their positions in the business. Fourthstone LLC increased its holdings in Provident Financial by 31.4% in the 2nd quarter. Fourthstone LLC now owns 115,210 shares of the financial services provider's stock worth $1,786,000 after acquiring an additional 27,556 shares in the last quarter. Northern Trust Corp increased its holdings in Provident Financial by 25.9% in the 4th quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider's stock worth $421,000 after acquiring an additional 5,445 shares in the last quarter. M3F Inc. increased its holdings in Provident Financial by 0.5% in the 1st quarter. M3F Inc. now owns 438,215 shares of the financial services provider's stock worth $6,394,000 after acquiring an additional 2,215 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Provident Financial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider's stock worth $424,000 after acquiring an additional 2,120 shares in the last quarter. Institutional investors own 71.34% of the company's stock.

About Provident Financial

Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. The company's deposit products include checking, savings, and money market accounts, as well as time deposits; and loan portfolio consists of single-family, multi-family, commercial real estate, construction, mortgage, commercial business, and consumer loans.