Provident Financial (NASDAQ:PROV) Stock Price Crosses Above Two Hundred Day Moving Average – Should You 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 $16.25 and traded as high as $17.00. Provident Financial shares last traded at $16.90, with a volume of 6,243 shares trading hands.

Analyst Upgrades and Downgrades

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

Provident Financial Price Performance

The company has a market capitalization of $105.75 million, a price-to-earnings ratio of 18.39 and a beta of 0.33. The firm’s 50 day moving average price is $16.92 and its two-hundred day moving average price is $16.27. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.45.

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

Provident Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, May 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.3%. Provident Financial’s payout ratio is currently 60.87%.

Institutional Trading of Provident Financial

Several hedge funds and other institutional investors have recently modified their holdings of PROV. Empowered Funds LLC boosted its holdings in shares of 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 during the period. Susquehanna International Group LLP bought a new stake in shares of Provident Financial during the 3rd quarter worth about $273,000. Federated Hermes Inc. boosted its holdings in shares of Provident Financial by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after buying an additional 3,459 shares during the period. Fourthstone LLC boosted its holdings in shares of Provident Financial by 52.6% during the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after buying an additional 121,329 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Provident Financial by 2.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 1,834 shares during the period. Institutional investors 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.