Provident Financial (NASDAQ:PROV) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.23 and traded as high as $15.50. Provident Financial shares last traded at $15.47, with a volume of 1,612 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on Provident Financial in a research report on Wednesday, May 21st. They issued a "hold" rating on the stock.

Provident Financial Trading Up 0.5%

The firm has a market cap of $103.49 million, a PE ratio of 15.95 and a beta of 0.34. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.22 and a current ratio of 1.22. The stock's 50 day simple moving average is $15.02 and its 200 day simple moving average is $15.23.

Provident Financial (NASDAQ:PROV - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. The firm had revenue of $10.12 million during the quarter, compared to the consensus estimate of $9.86 million. Provident Financial had a net margin of 10.87% and a return on equity of 5.09%. On average, sell-side analysts forecast that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Thursday, May 15th. Provident Financial's payout ratio is currently 57.73%.

Insider Buying and Selling

In other news, SVP Gwendolyn Wertz sold 1,940 shares of Provident Financial 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 sale, the senior vice president now owns 25,337 shares in the company, valued at $390,189.80. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Provident Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in Provident Financial by 7.4% in the 4th 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 in the last quarter. Fourthstone LLC lifted its position in shares of Provident Financial by 30.5% in the fourth 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 in the last quarter. Northern Trust Corp lifted its position 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 worth $421,000 after buying an additional 5,445 shares in the last quarter. Black Maple Capital Management LP grew its holdings in Provident Financial by 8.9% during 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 buying an additional 2,557 shares in the last quarter. Finally, M3F Inc. grew 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 buying an additional 2,215 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.

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