Provident Financial (NASDAQ:PROV) Stock Crosses Above 200 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 Tuesday . The stock has a 200-day moving average of $15.15 and traded as high as $15.89. Provident Financial shares last traded at $15.75, with a volume of 6,397 shares traded.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler upgraded shares of Provident Financial to a "neutral" rating and set a $16.50 price target on the stock in a research report on Monday, July 14th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $16.50.

Provident Financial Stock Down 0.1%

The stock has a market capitalization of $103.64 million, a P/E ratio of 16.94 and a beta of 0.39. The company's 50-day moving average price is $15.46 and its 200 day moving average price is $15.15. The company has a debt-to-equity ratio of 1.66, 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 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). The firm had revenue of $9.76 million for the quarter, compared to the consensus estimate 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 business earned $0.28 earnings per share. As a group, equities analysts expect that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current year.

Provident Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 14th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Provident Financial's dividend payout ratio (DPR) is presently 60.22%.

Hedge Funds Weigh In On Provident Financial

Institutional investors have recently bought and sold shares of the stock. M3F Inc. grew its stake in Provident Financial by 0.5% during the first 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. Empowered Funds LLC grew its stake in shares of 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 buying an additional 2,120 shares in the last quarter. Finally, Fourthstone LLC grew its stake in shares of 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 buying an additional 27,556 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other 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.

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.