Provident Financial (NASDAQ:PROV) Share Price Crosses 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 Thursday . The stock has a 200-day moving average of $15.85 and traded as high as $16.30. Provident Financial shares last traded at $16.26, with a volume of 7,698 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on PROV shares. Zacks Research upgraded shares of Provident Financial from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Provident Financial in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.00.

Provident Financial Trading Up 0.1%

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 firm’s fifty day moving average is $16.12 and its two-hundred day moving average is $15.85. The firm has a market cap of $103.74 million, a P/E ratio of 16.42 and a beta of 0.29.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.22 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 company had revenue of $14.87 million during the quarter, compared to the consensus estimate of $10.10 million. Analysts predict that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Thursday, February 12th were issued a $0.14 dividend. The ex-dividend date was Thursday, February 12th. This represents a $0.56 annualized dividend and a yield of 3.4%. Provident Financial’s dividend payout ratio (DPR) is 56.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC raised its position in shares of Provident Financial by 6.2% in the 4th quarter. Empowered Funds LLC now owns 31,454 shares of the financial services provider’s stock worth $500,000 after acquiring an additional 1,834 shares in the last quarter. Bridgeway Capital Management LLC boosted its position 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 valued at $1,060,000 after purchasing an additional 1,834 shares in the last quarter. Fourthstone LLC grew its stake in Provident Financial by 52.6% in the fourth quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after purchasing an additional 121,329 shares during the period. Federated Hermes Inc. raised its holdings in Provident Financial by 13.2% in the fourth quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 3,459 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new position in Provident Financial in the third quarter worth $273,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.