Provident Financial (NASDAQ:PROV) Shares Cross Above Two Hundred Day Moving Average of $12.99

Provident Financial Holdings, Inc. (NASDAQ:PROV) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.99 and traded as high as $13.52. Provident Financial shares last traded at $13.30, with a volume of 1,056 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Provident Financial in a report on Tuesday. They issued a “hold” rating for the company.

Provident Financial Stock Performance

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.87. The stock has a fifty day moving average price of $13.96 and a 200-day moving average price of $12.99. The firm has a market capitalization of $92.17 million, a price-to-earnings ratio of 11.57 and a beta of 0.40.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. Provident Financial had a return on equity of 6.20% and a net margin of 14.43%. The firm had revenue of $9.65 million during the quarter, compared to analysts’ expectations of $10.00 million. As a group, analysts anticipate that Provident Financial Holdings, Inc. will post 1.05 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Thursday, February 15th were issued a dividend of $0.14 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.56 dividend on an annualized basis and a yield of 4.21%. Provident Financial’s dividend payout ratio is 48.70%.

Institutional Investors Weigh In On Provident Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of PROV. Bank of America Corp DE increased its holdings in Provident Financial by 49,616.7% during the 1st quarter. Bank of America Corp DE now owns 5,966 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 5,954 shares in the last quarter. Royal Bank of Canada increased its holdings in Provident Financial by 8.4% during the 3rd quarter. Royal Bank of Canada now owns 15,500 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 1,200 shares in the last quarter. Northern Trust Corp increased its holdings in Provident Financial by 10.0% during the 2nd quarter. Northern Trust Corp now owns 18,063 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 1,647 shares in the last quarter. Prelude Capital Management LLC acquired a new stake in Provident Financial during the 3rd quarter valued at $251,000. Finally, Federated Hermes Inc. boosted its position in Provident Financial by 4.8% in the 3rd quarter. Federated Hermes Inc. now owns 25,798 shares of the financial services provider’s stock valued at $338,000 after buying an additional 1,173 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.