Provident Financial (NASDAQ:PROV) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.82 and traded as high as $16.25. Provident Financial shares last traded at $16.15, with a volume of 14,271 shares traded.

Wall Street Analysts Forecast Growth

PROV has been the topic of several research analyst reports. Zacks Research upgraded Provident Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Provident Financial in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.00.

Provident Financial Stock Performance

The firm’s 50 day moving average is $16.11 and its 200-day moving average is $15.83. The stock has a market capitalization of $102.14 million, a price-to-earnings ratio of 16.17 and a beta of 0.32. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.24 and a current ratio of 1.24.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08). Provident Financial had a return on equity of 5.14% and a net margin of 10.97%.The firm had revenue of $14.87 million during the quarter, compared to analyst estimates of $10.10 million. Analysts forecast that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 12th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.5%. Provident Financial’s payout ratio is currently 56.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PROV. Empowered Funds LLC increased its stake 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 buying an additional 2,120 shares in the last quarter. Fourthstone LLC lifted its position in shares of Provident Financial by 31.4% in the second quarter. Fourthstone LLC now owns 115,210 shares of the financial services provider’s stock valued at $1,786,000 after acquiring an additional 27,556 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Provident Financial in the third quarter worth approximately $273,000. Federated Hermes Inc. increased its position in shares of Provident Financial by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 3,459 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in shares of Provident Financial by 2.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 1,834 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Provident Financial Company Profile

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.