Provident Financial (NASDAQ:PROV) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.54 and traded as high as $17.19. Provident Financial shares last traded at $17.18, with a volume of 2,082 shares.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Zacks Research raised shares of Provident Financial to a “hold” rating in a research report on Monday, June 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Provident Financial in a research note on Tuesday, April 21st. Finally, Piper Sandler assumed coverage on shares of Provident Financial in a research note on Friday, June 26th. They issued a “neutral” rating and a $17.00 price target on the stock. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.00.

Provident Financial Stock Performance

The company has a market capitalization of $107.38 million, a price-to-earnings ratio of 18.67 and a beta of 0.33. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a 50-day simple moving average of $17.07 and a two-hundred day simple moving average of $16.54.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The business had revenue of $14.57 million during the quarter, compared to analyst estimates of $10.10 million. Provident Financial had a net margin of 10.27% and a return on equity of 4.77%. On average, sell-side analysts anticipate that Provident Financial Holdings, Inc. will post 0.96 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were issued a $0.14 dividend. The ex-dividend date was Thursday, May 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.3%. Provident Financial’s dividend payout ratio (DPR) is 60.87%.

Insider Transactions at Provident Financial

In related news, SVP David Weiant sold 2,732 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.12, for a total transaction of $46,771.84. Following the completion of the transaction, the senior vice president directly owned 6,175 shares of the company’s stock, valued at $105,716. The trade was a 30.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 4,744 shares of company stock valued at $81,076 in the last ninety days. Company insiders own 11.49% of the company’s stock.

Hedge Funds Weigh In On Provident Financial

Several hedge funds and other institutional investors have recently made changes to their positions in PROV. Empowered Funds LLC raised its holdings in shares of Provident Financial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 2,120 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Provident Financial during the third quarter worth $273,000. Federated Hermes Inc. increased 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 valued at $472,000 after buying an additional 3,459 shares during the last quarter. Fourthstone LLC increased its holdings in Provident Financial by 52.6% in the fourth quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock valued at $5,603,000 after buying an additional 121,329 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in Provident Financial by 2.8% in 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 buying an additional 1,834 shares in the last quarter. 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.