Provident Financial (NASDAQ:PROV) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Provident Financial Holdings, Inc. (NASDAQ:PROV) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $16.45 and traded as high as $17.25. Provident Financial shares last traded at $17.17, with a volume of 2,697 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PROV shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Provident Financial in a research report on Tuesday, April 21st. Piper Sandler began coverage on Provident Financial in a research report on Friday. They set a “neutral” rating and a $17.00 target price for the company. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.00.

Provident Financial Price Performance

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $107.50 million, a P/E ratio of 18.70 and a beta of 0.33. The business’s fifty day moving average price is $17.05 and its 200-day moving average price is $16.46.

Provident Financial (NASDAQ:PROV) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). Provident Financial had a net margin of 10.27% and a return on equity of 4.77%. The firm had revenue of $14.57 million during the quarter, compared to the consensus estimate of $10.10 million.

Provident Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given 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 payout ratio is presently 60.87%.

Insider Transactions at Provident Financial

In other Provident Financial news, SVP David Weiant sold 2,732 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $17.12, for a total transaction of $46,771.84. Following the transaction, the senior vice president directly owned 6,175 shares in the company, valued at $105,716. This trade represents a 30.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 4,744 shares of company stock valued at $81,076 over the last ninety days. 11.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Provident Financial

A number of institutional investors have recently made changes to their positions in PROV. Fourthstone LLC raised its position in Provident Financial by 52.6% in the 4th 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. Susquehanna International Group LLP purchased a new stake in Provident Financial during the third quarter valued at about $273,000. Federated Hermes Inc. grew its stake in shares of Provident Financial by 13.2% during 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. Empowered Funds LLC increased its holdings in shares of Provident Financial by 7.6% in the first quarter. Empowered Funds LLC now owns 33,854 shares of the financial services provider’s stock worth $546,000 after buying an additional 2,400 shares during the period. Finally, Bridgeway Capital Management LLC increased its holdings in shares of 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 worth $1,060,000 after buying an additional 1,834 shares during the period. 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.