Provident Financial (NASDAQ:PROV) Stock Crosses Above 200-Day Moving Average – What’s Next?

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 $15.77 and traded as high as $16.15. Provident Financial shares last traded at $16.03, with a volume of 4,839 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PROV shares. Zacks Research upgraded shares of Provident Financial from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Provident Financial in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Provident Financial currently has an average rating of “Hold” and an average price target of $16.00.

Provident Financial Stock Up 0.1%

The stock has a market cap of $101.57 million, a PE ratio of 16.08 and a beta of 0.32. The business has a 50 day moving average of $16.11 and a 200-day moving average of $15.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.67.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.08). The firm had revenue of $14.87 million during the quarter, compared to analyst estimates of $10.10 million. Provident Financial had a net margin of 10.97% and a return on equity of 5.14%. Equities research analysts predict that Provident Financial Holdings, Inc. will post 0.9 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 12th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, February 12th. This represents a $0.56 annualized dividend and a dividend yield of 3.5%. Provident Financial’s dividend payout ratio is 56.57%.

Institutional Trading of Provident Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP acquired a new stake in shares of Provident Financial during the third quarter worth $273,000. Empowered Funds LLC raised its position in Provident Financial by 7.9% during the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after buying an additional 2,120 shares during the last quarter. Federated Hermes Inc. lifted 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 acquiring an additional 3,459 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of 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 valued at $1,060,000 after acquiring an additional 1,834 shares in the last quarter. Finally, Fourthstone LLC increased its stake in shares of Provident Financial by 31.4% during the second quarter. Fourthstone LLC now owns 115,210 shares of the financial services provider’s stock worth $1,786,000 after acquiring an additional 27,556 shares during the period. 71.34% of the stock is 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.