Provident Financial (NASDAQ:PROV) Stock: Insider Craig Blunden Sells 5,700 Shares

Provident Financial Holdings, Inc. (NASDAQ:PROV) Director Craig Blunden sold 5,700 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $18.20, for a total transaction of $103,740.00. Following the sale, the director directly owned 202,284 shares in the company, valued at approximately $3,681,568.80. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Provident Financial Price Performance

Provident Financial stock opened at $18.12 on Wednesday. The firm has a market cap of $110.71 million, a PE ratio of 17.59 and a beta of 0.33. Provident Financial Holdings, Inc. has a 52-week low of $14.95 and a 52-week high of $18.99. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $18.33 and its two-hundred day moving average is $17.27.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings results on Tuesday, October 27th. The financial services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.07). The business had revenue of $10.57 million during the quarter, compared to analysts’ expectations of $10.30 million. Provident Financial had a net margin of 10.88% and a return on equity of 5.16%. On average, research analysts expect that Provident Financial Holdings, Inc. will post 1.24 EPS for the current fiscal year.

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 12th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Thursday, November 12th. Provident Financial’s dividend payout ratio (DPR) is presently 54.37%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PROV. Weiss Ratings upgraded Provident Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 16th. Zacks Research upgraded Provident Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 3rd. Piper Sandler increased their price target on Provident Financial from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen raised Provident Financial to a “hold” rating in a research report on Saturday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $18.00.

Institutional Investors Weigh In On Provident Financial

Several institutional investors have recently modified their holdings of PROV. Raffles Associates LP purchased a new position in Provident Financial in the second quarter valued at $6,727,000. The Manufacturers Life Insurance Company acquired a new stake in Provident Financial in the second quarter valued at $5,224,000. BlackRock Inc. purchased a new stake in Provident Financial during the 2nd quarter worth about $4,844,000. Empowered Funds LLC purchased a new stake in Provident Financial during the 2nd quarter worth about $595,000. Finally, Susquehanna International Group LLP lifted its holdings in Provident Financial by 73.9% during the 2nd quarter. Susquehanna International Group LLP now owns 32,363 shares of the financial services provider’s stock worth $557,000 after buying an additional 13,756 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Provident Financial Company Profile

Provident Financial Holdings, Inc. is the holding company for Provident Savings Bank, a federally chartered community bank headquartered in Riverside, California. The bank serves individuals, families and businesses primarily in Southern California, with a focus on the Inland Empire and surrounding communities. Provident Savings Bank offers a range of traditional banking products and services, including deposit accounts, residential mortgage loans, home equity financing, consumer loans and commercial real estate lending.