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

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 1,000 shares of the company’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 completion of the sale, the senior vice president owned 9,919 shares of the company’s stock, valued at approximately $169,614.90. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Provident Financial Price Performance

PROV stock 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. Provident Financial Holdings, Inc. has a 12 month low of $14.95 and a 12 month high of $17.42. The company has a market cap of $105.75 million, a price-to-earnings 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 (NASDAQ:PROV) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.08). Provident Financial had a net margin of 10.27% and a return on equity of 4.77%. The business had revenue of $14.57 million during the quarter, compared to analysts’ expectations of $10.10 million.

Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a $0.14 dividend. The ex-dividend date was Thursday, May 14th. This represents a $0.56 annualized dividend and a yield of 3.3%. Provident Financial’s dividend payout ratio is 60.87%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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 data from MarketBeat.com, Provident Financial currently has an average rating of “Hold” and an average price target of $16.00.

Hedge Funds Weigh In On Provident Financial

Several institutional investors have recently bought and sold shares of the company. Fourthstone LLC increased its stake in Provident Financial by 52.6% in the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock valued at $5,603,000 after buying an additional 121,329 shares during the period. Bridgeway Capital Management LLC increased its stake in 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 valued at $1,060,000 after buying an additional 1,834 shares during the period. Empowered Funds LLC increased its stake in 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 buying an additional 2,400 shares during the period. Federated Hermes Inc. increased its stake in Provident Financial by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock valued at $472,000 after buying an additional 3,459 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in Provident Financial in the 3rd quarter valued at $273,000. 71.34% of the stock is owned by institutional investors and hedge funds.

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.