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

Shares of 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 $16.12 and traded as high as $17.15. Provident Financial shares last traded at $16.97, with a volume of 4,106 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Provident Financial in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $16.00.

Provident Financial Price Performance

The business has a 50 day simple moving average of $16.67 and a 200-day simple moving average of $16.14. The firm has a market cap of $106.94 million, a price-to-earnings ratio of 18.60 and a beta of 0.34. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.20 and a current ratio of 1.20.

Provident Financial (NASDAQ:PROV) last announced its earnings results 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). Provident Financial had a return on equity of 4.77% and a net margin of 10.27%.The business had revenue of $14.57 million during the quarter, compared to analysts’ expectations of $10.10 million.

Provident Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Thursday, May 14th. Provident Financial’s payout ratio is presently 60.87%.

Hedge Funds Weigh In On Provident Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC boosted its stake 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 worth $546,000 after buying an additional 2,400 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Provident Financial by 2.8% in the 4th 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 last quarter. Fourthstone LLC boosted its stake in shares of 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 buying an additional 121,329 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Provident Financial by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after buying an additional 3,459 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of Provident Financial in the 3rd quarter worth approximately $273,000. Hedge funds and other 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.