Provident Financial (NASDAQ:PROV) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.13 and traded as high as $15.45. Provident Financial shares last traded at $15.28, with a volume of 10,118 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen began coverage on Provident Financial in a report on Wednesday, May 21st. They set a "hold" rating for the company. Piper Sandler upgraded shares of Provident Financial to a "neutral" rating and set a $16.50 target price for the company in a research note on Monday, July 14th.

Provident Financial Price Performance

The company has a market cap of $102.22 million, a price-to-earnings ratio of 16.43 and a beta of 0.37. The company has a 50-day simple moving average of $15.47 and a 200-day simple moving average of $15.13. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.22 and a current ratio of 1.22.

Provident Financial (NASDAQ:PROV - Get Free Report) last announced its quarterly earnings data 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). Provident Financial had a return on equity of 4.85% and a net margin of 10.40%. The business had revenue of $9.76 million for the quarter, compared to analyst estimates of $10.50 million. During the same period in the prior year, the company earned $0.28 EPS. As a group, research analysts predict that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current year.

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 14th will be paid a $0.14 dividend. The ex-dividend date is Thursday, August 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.7%. Provident Financial's dividend payout ratio (DPR) is 60.22%.

Insider Buying and Selling

In other Provident Financial news, SVP Gwendolyn Wertz sold 1,940 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $15.40, for a total value of $29,876.00. Following the completion of the transaction, the senior vice president directly owned 25,337 shares of the company's stock, valued at approximately $390,189.80. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.41% of the company's stock.

Institutional Investors Weigh In On Provident Financial

A number of institutional investors and hedge funds have recently modified their holdings of PROV. The Manufacturers Life Insurance Company raised its holdings in Provident Financial by 7.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider's stock worth $5,326,000 after purchasing an additional 23,117 shares during the last quarter. Fourthstone LLC raised its stake in shares of Provident Financial by 30.5% during the 4th quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider's stock worth $1,433,000 after buying an additional 21,030 shares during the last quarter. Northern Trust Corp boosted its position in shares of 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 buying an additional 5,445 shares in the last quarter. Black Maple Capital Management LP grew its stake in Provident Financial by 8.9% in the 4th quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider's stock valued at $495,000 after acquiring an additional 2,557 shares during the last quarter. Finally, M3F Inc. increased its holdings in Provident Financial by 0.5% during the 1st quarter. M3F Inc. now owns 438,215 shares of the financial services provider's stock valued at $6,394,000 after acquiring an additional 2,215 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Provident Financial Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.