Provident Financial (NASDAQ:PROV) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.13 and traded as high as $15.77. Provident Financial shares last traded at $15.70, with a volume of 10,534 shares.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PROV shares. Piper Sandler raised Provident Financial to a "neutral" rating and set a $16.50 price target on the stock in a report on Monday, July 14th. Wall Street Zen initiated coverage on shares of Provident Financial in a research note on Wednesday, May 21st. They issued a "hold" rating on the stock.

Provident Financial Price Performance

The stock has a market capitalization of $103.70 million, a P/E ratio of 15.98 and a beta of 0.34. The stock's fifty day moving average is $15.46 and its 200-day moving average is $15.13. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.22.

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

Provident Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.61%. Provident Financial's dividend payout ratio (DPR) is 57.73%.

Insider Transactions at Provident Financial

In other Provident Financial news, SVP Gwendolyn Wertz sold 1,940 shares of the company's stock in a transaction dated 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 directly owned 25,337 shares in the company, valued at $390,189.80. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Provident Financial

A number of hedge funds have recently bought and sold shares of PROV. Northern Trust Corp boosted its holdings in Provident Financial by 25.9% during the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider's stock valued at $421,000 after acquiring an additional 5,445 shares during the period. Empowered Funds LLC lifted its stake in shares of Provident Financial by 7.9% in the first quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider's stock valued at $424,000 after buying an additional 2,120 shares during the period. Black Maple Capital Management LP lifted its stake 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 period. Fourthstone LLC lifted its stake 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 valued at $1,433,000 after buying an additional 21,030 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Provident Financial by 7.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider's stock valued at $5,326,000 after buying an additional 23,117 shares during the period. 71.34% of the stock is currently owned by institutional investors.

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.