Provident Financial (NASDAQ:PROV) SVP David Weiant Sells 1,000 Shares of Stock

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 1,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $17.10, for a total transaction of $17,100.00. Following the transaction, the senior vice president owned 9,919 shares of the company’s stock, valued at $169,614.90. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Provident Financial Price Performance

PROV opened at $16.92 on Friday. The company has a fifty day moving average price of $16.92 and a 200-day moving average price of $16.27. The firm has a market capitalization of $105.75 million, a P/E ratio of 18.39 and a beta of 0.33. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.20 and a quick ratio of 1.20. Provident Financial Holdings, Inc. has a one year low of $14.95 and a one year high of $17.42.

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

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 14th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, May 14th. Provident Financial’s payout ratio is currently 60.87%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Provident Financial in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PROV. Fourthstone LLC grew its position in Provident Financial by 52.6% in the fourth quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after acquiring an additional 121,329 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Provident Financial in the third quarter worth $273,000. Federated Hermes Inc. lifted its stake in Provident Financial by 13.2% in the fourth quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 3,459 shares during the last quarter. Empowered Funds LLC lifted its stake in 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 purchasing an additional 2,400 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in 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 purchasing an additional 1,834 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.