David Weiant Sells 1,012 Shares of Provident Financial (NASDAQ:PROV) Stock

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 1,012 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $17.00, for a total transaction of $17,204.00. Following the completion of the sale, the senior vice president owned 8,907 shares in the company, valued at approximately $151,419. The trade was a 10.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

David Weiant also recently made the following trade(s):

• On Wednesday, June 10th, David Weiant sold 2,732 shares of Provident Financial stock. The stock was sold at an average price of $17.12, for a total transaction of $46,771.84.
• On Thursday, June 4th, David Weiant sold 1,000 shares of Provident Financial stock. The stock was sold at an average price of $17.10, for a total transaction of $17,100.00.

Provident Financial Price Performance

PROV opened at $17.06 on Thursday. The company has a market capitalization of $106.63 million, a P/E ratio of 18.54 and a beta of 0.33. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s fifty day moving average price is $16.97 and its two-hundred day moving average price is $16.31. Provident Financial Holdings, Inc. has a fifty-two week low of $14.95 and a fifty-two week high of $17.42.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.08). The business had revenue of $14.57 million during the quarter, compared to the consensus estimate of $10.10 million. Provident Financial had a net margin of 10.27% and a return on equity of 4.77%.

Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Thursday, May 14th. Provident Financial’s payout ratio is 60.87%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Provident Financial in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.00.

Institutional Investors Weigh In On Provident Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bridgeway Capital Management LLC boosted its stake in shares of Provident Financial by 2.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 1,834 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Provident Financial by 6.2% in the 4th quarter. Empowered Funds LLC now owns 31,454 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 1,834 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Provident Financial by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 3,459 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Provident Financial in the 3rd quarter valued at $273,000. Finally, Fourthstone LLC boosted its stake in shares of Provident Financial by 52.6% in the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock valued at $5,603,000 after purchasing an additional 121,329 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

About Provident Financial

Provident Financial Services, Inc (NASDAQ: PROV) is a bank holding company headquartered in Jersey City, New Jersey, that conducts its operations through its wholly owned subsidiary, Provident Bank. With origins dating back to 1839, the company has grown into a full-service financial institution offering a broad spectrum of products and services to individuals, small businesses and commercial clients.

The company’s principal business activities include retail banking, commercial lending, mortgage finance and wealth management.