Provident Financial (NASDAQ:PROV) SVP David Weiant Sells 2,732 Shares

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 2,732 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $17.12, for a total transaction of $46,771.84. Following the completion of the transaction, the senior vice president directly owned 6,175 shares of the company’s stock, valued at approximately $105,716. The trade was a 30.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

David Weiant also recently made the following trade(s):

• On Monday, June 8th, David Weiant sold 1,012 shares of Provident Financial stock. The stock was sold at an average price of $17.00, for a total transaction of $17,204.00.
• On Thursday, June 4th, David Weiant sold 1,000 shares of Provident Financial stock. The stock was sold at an average price of $17.10, for a total transaction of $17,100.00.

Provident Financial Stock Up 0.3%

Shares of NASDAQ:PROV traded up $0.05 during midday trading on Wednesday, reaching $17.11. The company had a trading volume of 6,137 shares, compared to its average volume of 8,103. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.20 and a quick ratio of 1.20. The stock’s fifty day moving average price is $16.95 and its 200-day moving average price is $16.30. The stock has a market capitalization of $106.91 million, a P/E ratio of 18.59 and a beta of 0.33. 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 issued 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 return on equity of 4.77% and a net margin of 10.27%.The company had revenue of $14.57 million for the quarter, compared to the consensus estimate of $10.10 million.

Provident Financial Dividend Announcement

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

Hedge Funds Weigh In On Provident Financial

A number of large investors have recently bought and sold shares of PROV. Fourthstone LLC lifted its holdings 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 during the last quarter. Susquehanna International Group LLP bought a new position in Provident Financial in the third quarter worth about $273,000. Federated Hermes Inc. lifted its holdings 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 acquiring an additional 3,459 shares during the last quarter. Empowered Funds LLC lifted its holdings 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 acquiring an additional 2,400 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings 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 acquiring an additional 1,834 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

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

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.