Provident Financial (NASDAQ:PROV) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.77 and traded as high as $16.15. Provident Financial shares last traded at $16.03, with a volume of 4,839 shares trading hands.

Analyst Ratings Changes

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

Provident Financial Stock Performance

The stock has a market cap of $102.27 million, a price-to-earnings ratio of 16.19 and a beta of 0.32. The stock’s fifty day moving average is $16.11 and its 200-day moving average is $15.77. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.67.

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

Provident Financial Announces Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, February 12th. This represents a $0.56 annualized dividend and a yield of 3.5%. Provident Financial’s payout ratio is currently 56.57%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PROV. Bridgeway Capital Management LLC lifted 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 valued at $1,060,000 after purchasing an additional 1,834 shares in the last quarter. Empowered Funds LLC lifted its stake in Provident Financial by 6.2% in the fourth quarter. Empowered Funds LLC now owns 31,454 shares of the financial services provider’s stock valued at $500,000 after buying an additional 1,834 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Provident Financial by 13.2% in the fourth quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock valued at $472,000 after buying an additional 3,459 shares during the period. Susquehanna International Group LLP acquired a new position in shares of Provident Financial in the third quarter valued at approximately $273,000. Finally, Fourthstone LLC increased its position 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 acquiring an additional 27,556 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.