Provident Financial (NASDAQ:PROV) Shares Pass Above 200 Day Moving Average – Time to Sell?

Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.70 and traded as high as $16.29. Provident Financial shares last traded at $16.15, with a volume of 5,543 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Provident Financial in a report on Thursday, January 22nd. Zacks Research upgraded shares of Provident Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Piper Sandler reduced their target price on Provident Financial from $16.50 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Provident Financial presently has a consensus rating of “Hold” and an average target price of $16.00.

Provident Financial Stock Performance

The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $103.04 million, a PE ratio of 16.31 and a beta of 0.32. The business’s 50-day moving average is $16.09 and its 200 day moving average is $15.70.

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

Provident Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 12th will be given a $0.14 dividend. The ex-dividend date is Thursday, February 12th. This represents a $0.56 annualized dividend and a yield of 3.5%. Provident Financial’s payout ratio is presently 56.57%.

Institutional Investors Weigh In On Provident Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PROV. Empowered Funds LLC grew its holdings in Provident Financial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 2,120 shares during the last quarter. Fourthstone LLC grew its stake 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 worth $1,786,000 after purchasing an additional 27,556 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Provident Financial during the 3rd quarter valued at about $273,000. Federated Hermes Inc. raised its position in Provident Financial by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 3,459 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in Provident Financial by 2.8% in 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. 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.