Provident Financial (NASDAQ:PROV) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Analyst Ratings Changes

Several research firms have weighed in on PROV. Weiss Ratings restated a “hold (c)” rating on shares of Provident Financial in a report on Thursday, January 22nd. Zacks Research upgraded Provident Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Provident Financial currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Provident Financial Stock Performance

The stock’s 50-day moving average price is $16.11 and its 200 day moving average price is $15.82. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.67. The company has a market cap of $102.96 million, a P/E ratio of 16.31 and a beta of 0.32.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $10.10 million. As a group, research analysts expect that Provident Financial Holdings, Inc. will post 0.9 EPS for the current fiscal year.

Provident Financial Dividend Announcement

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

Hedge Funds Weigh In On Provident Financial

A number of institutional investors have recently made changes to their positions in PROV. Empowered Funds LLC lifted its position 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 purchasing an additional 2,120 shares during the last quarter. Fourthstone LLC grew its holdings in Provident Financial by 31.4% in the 2nd quarter. Fourthstone LLC now owns 115,210 shares of the financial services provider’s stock valued at $1,786,000 after buying an additional 27,556 shares during the last quarter. Susquehanna International Group LLP bought a new position in Provident Financial in the 3rd quarter worth approximately $273,000. Federated Hermes Inc. increased its position in Provident Financial by 13.2% in 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. Finally, Bridgeway Capital Management LLC lifted its holdings 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 buying an additional 1,834 shares during the last quarter. 71.34% of the stock is currently owned by 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.