Provident Financial (NASDAQ:PROV) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Provident Financial Holdings, Inc. (NASDAQ:PROV) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.24 and traded as high as $18.75. Provident Financial shares last traded at $18.62, with a volume of 17,252 shares.

Wall Street Analyst Weigh In

PROV has been the subject of several recent research reports. Zacks Research upgraded Provident Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. Piper Sandler raised their target price on shares of Provident Financial from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Provident Financial from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Provident Financial has a consensus rating of “Buy” and an average target price of $18.00.

Provident Financial Stock Performance

The firm has a 50 day moving average of $18.05 and a two-hundred day moving average of $17.26. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $114.38 million, a PE ratio of 17.83 and a beta of 0.33.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $10.59 million for the quarter, compared to analysts’ expectations of $10.00 million. Provident Financial had a net margin of 11.16% and a return on equity of 5.23%. Research analysts predict that Provident Financial Holdings, Inc. will post 1.22 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 13th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, August 13th. Provident Financial’s dividend payout ratio (DPR) is currently 54.37%.

Hedge Funds Weigh In On Provident Financial

Large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Provident Financial during the second quarter worth about $37,000. Bank of New York Mellon Corp purchased a new stake in shares of Provident Financial in the 2nd quarter valued at about $190,000. Empowered Funds LLC lifted its holdings in shares of Provident Financial by 7.6% in the 1st quarter. Empowered Funds LLC now owns 33,854 shares of the financial services provider’s stock valued at $546,000 after purchasing an additional 2,400 shares during the last quarter. Susquehanna International Group LLP boosted its position in shares of Provident Financial by 73.9% in the 2nd quarter. Susquehanna International Group LLP now owns 32,363 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 13,756 shares during the period. Finally, BlackRock Inc. acquired a new stake in shares of Provident Financial in the 2nd quarter valued at about $4,844,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Provident Financial Company Profile

Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, FSB, a community-oriented financial institution headquartered in Riverside, California. Through its banking subsidiary, the company serves consumers, businesses and real estate professionals primarily in Southern California, including communities in the Inland Empire and surrounding areas.

Provident Savings Bank offers a range of deposit products, including checking, savings, money market and certificate accounts.