Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.07 and traded as high as $15.64. Provident Financial shares last traded at $15.60, with a volume of 7,914 shares.
Analyst Upgrades and Downgrades
PROV has been the topic of several research reports. Wall Street Zen initiated coverage on shares of Provident Financial in a report on Wednesday, May 21st. They issued a "hold" rating 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 report on Monday, July 14th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Provident Financial currently has an average rating of "Hold" and a consensus price target of $16.50.
Read Our Latest Stock Analysis on PROV
Provident Financial Price Performance
The business's 50 day moving average price is $15.45 and its 200-day moving average price is $15.07. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.66. The company has a market cap of $101.99 million, a PE ratio of 16.67 and a beta of 0.39.
Provident Financial (NASDAQ:PROV - Get Free Report) last released its quarterly earnings results 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 net margin of 10.40% and a return on equity of 4.85%. The firm had revenue of $9.76 million for the quarter, compared to analyst estimates of $10.50 million. During the same period in the previous year, the business posted $0.28 earnings per share. As a group, analysts forecast that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current year.
Provident Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 14th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Provident Financial's payout ratio is presently 60.22%.
Insider Buying and Selling
In related news, SVP Gwendolyn Wertz sold 1,940 shares of the stock in a transaction dated Tuesday, June 10th. The stock was 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 owned 25,337 shares of the company's stock, valued at approximately $390,189.80. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 11.41% of the company's stock.
Hedge Funds Weigh In On Provident Financial
A number of institutional investors have recently made changes to their positions in PROV. Fourthstone LLC grew its position in shares of Provident Financial by 31.4% during the second 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. Northern Trust Corp boosted its stake in Provident Financial by 25.9% during the 4th 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 last quarter. 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 worth $6,394,000 after acquiring an additional 2,215 shares in the last quarter. Empowered Funds LLC grew its holdings in Provident Financial by 7.9% during the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider's stock worth $424,000 after acquiring an additional 2,120 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Provident Financial by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider's stock worth $7,737,000 after purchasing an additional 1,342 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.
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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