Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.11 and traded as high as $15.45. Provident Financial shares last traded at $15.38, with a volume of 6,613 shares.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. 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. Wall Street Zen assumed coverage on shares of Provident Financial in a research note on Wednesday, May 21st. They issued a "hold" rating for the company. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $16.50.
Read Our Latest Stock Analysis on Provident Financial
Provident Financial Stock Performance
The company has a market cap of $102.16 million, a price-to-earnings ratio of 16.42 and a beta of 0.37. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.67. The stock's fifty day simple moving average is $15.46 and its 200 day simple moving average is $15.09.
Provident Financial (NASDAQ:PROV - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.24 EPS 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 analyst estimates of $10.50 million. Provident Financial had a net margin of 10.40% and a return on equity of 4.85%. During the same quarter in the previous year, the company posted $0.28 EPS. As a group, analysts anticipate that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current year.
Provident Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, August 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.7%. Provident Financial's dividend payout ratio (DPR) is currently 60.22%.
Insider Activity
In other news, SVP Gwendolyn Wertz sold 1,940 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $15.40, for a total transaction of $29,876.00. Following the completion of the sale, the senior vice president owned 25,337 shares in the company, valued at $390,189.80. This trade represents a 7.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.41% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Provident Financial
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fourthstone LLC lifted its position in shares of Provident Financial by 31.4% during the 2nd quarter. Fourthstone LLC now owns 115,210 shares of the financial services provider's stock worth $1,786,000 after purchasing an additional 27,556 shares during the last quarter. The Manufacturers Life Insurance Company boosted 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 buying an additional 23,117 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Provident Financial by 25.9% in the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider's stock valued at $421,000 after purchasing an additional 5,445 shares in the last quarter. Black Maple Capital Management LP raised its position in shares of Provident Financial by 8.9% in the fourth quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider's stock valued at $495,000 after buying an additional 2,557 shares during the last quarter. Finally, M3F Inc. increased its position in shares of Provident Financial by 0.5% in the first 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. Hedge funds and other institutional investors own 71.34% of the company's stock.
About Provident Financial
(
Get Free Report)
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.
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