Provident Financial (NASDAQ:PROV) Share Price Passes Above 200 Day Moving Average – What’s Next?

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.07 and traded as high as $15.75. Provident Financial shares last traded at $15.59, with a volume of 11,164 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on PROV. Wall Street Zen began coverage on Provident Financial in a research note on Wednesday, May 21st. They issued a “hold” rating on the stock. Piper Sandler upgraded Provident Financial to a “neutral” rating and set a $16.50 price objective on the stock in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Provident Financial currently has a consensus rating of “Hold” and an average target price of $16.50.

Provident Financial Trading Up 0.2%

The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.22 and a current ratio of 1.22. The business has a fifty day simple moving average of $15.44 and a 200 day simple moving average of $15.07. The stock has a market capitalization of $102.58 million, a price-to-earnings ratio of 16.76 and a beta of 0.39.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.24 EPS 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 during the quarter, compared to analyst estimates of $10.50 million. During the same period in the prior year, the company earned $0.28 earnings per share. As a group, research analysts expect that Provident Financial Holdings, Inc. will post 0.9 EPS for the current year.

Provident Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, August 14th. Provident Financial’s dividend payout ratio is currently 60.22%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Fourthstone LLC increased its holdings 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 purchasing an additional 27,556 shares during the period. Empowered Funds LLC increased its holdings in shares of Provident Financial by 7.9% during the first quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 2,120 shares during the period. M3F Inc. increased its holdings in shares of Provident Financial by 0.5% during the first quarter. M3F Inc. now owns 438,215 shares of the financial services provider’s stock worth $6,394,000 after purchasing an additional 2,215 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Provident Financial by 25.9% during the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 5,445 shares during the period. 71.34% of the stock is owned by institutional investors.

Provident Financial Company Profile

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.