Provident Financial (NASDAQ:PROV) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.73 and traded as high as $16.21. Provident Financial shares last traded at $16.09, with a volume of 3,769 shares traded.

Analysts Set New Price Targets

Several brokerages have issued reports on PROV. Zacks Research upgraded Provident Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Piper Sandler cut their price target on Provident Financial from $16.50 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Provident Financial in a research note on Thursday, January 22nd. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $16.00.

Provident Financial Stock Down 0.7%

The firm’s fifty day moving average price is $16.10 and its 200-day moving average price is $15.73. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $102.65 million, a price-to-earnings ratio of 16.25 and a beta of 0.32.

Provident Financial (NASDAQ:PROV) last posted its earnings results 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). The business had revenue of $14.87 million for the quarter, compared to analyst estimates of $10.10 million. Provident Financial had a return on equity of 5.14% and a net margin of 10.97%. Sell-side analysts expect that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 12th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $0.56 annualized dividend and a yield of 3.5%. Provident Financial’s dividend payout ratio (DPR) is presently 56.57%.

Institutional Trading of Provident Financial

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

Provident Financial Company Profile

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.