Provident Financial (NASDAQ:PROV) Director Craig Blunden Sells 5,700 Shares of Stock

Provident Financial Holdings, Inc. (NASDAQ:PROV) Director Craig Blunden sold 5,700 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $18.20, for a total transaction of $103,740.00. Following the transaction, the director owned 202,284 shares in the company, valued at approximately $3,681,568.80. This trade represents a 2.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Provident Financial Trading Down 0.2%

Shares of PROV stock opened at $18.17 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. Provident Financial Holdings, Inc. has a 12-month low of $14.95 and a 12-month high of $18.99. The stock has a market capitalization of $112.65 million, a P/E ratio of 17.64 and a beta of 0.33. The firm’s 50 day moving average is $18.33 and its 200 day moving average is $17.26.

Provident Financial (NASDAQ:PROV) last announced its earnings results on Tuesday, October 27th. The financial services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.07). The company had revenue of $10.57 million for the quarter, compared to analysts’ expectations of $10.30 million. Provident Financial had a net margin of 10.88% and a return on equity of 5.16%. Research analysts expect that Provident Financial Holdings, Inc. will post 1.24 earnings per share for the current year.

Provident Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.56 annualized dividend and a dividend yield of 3.1%. Provident Financial’s payout ratio is presently 54.37%.

Institutional Trading of Provident Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP grew its position in shares of Provident Financial by 73.9% during the second quarter. Susquehanna International Group LLP now owns 32,363 shares of the financial services provider’s stock worth $557,000 after purchasing an additional 13,756 shares in the last quarter. Empowered Funds LLC bought a new stake in Provident Financial during the 2nd quarter valued at approximately $595,000. Public Employees Retirement System of Ohio purchased a new position in Provident Financial in the 2nd quarter worth approximately $37,000. Raffles Associates LP purchased a new position in Provident Financial in the 2nd quarter worth approximately $6,727,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Provident Financial in the 2nd quarter worth approximately $5,224,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on PROV. Zacks Research raised Provident Financial from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 3rd. Wall Street Zen raised Provident Financial to a “hold” rating in a research report on Saturday, October 3rd. Weiss Ratings upgraded Provident Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, October 16th. Finally, Piper Sandler boosted their price target on Provident Financial from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $18.00.

About Provident Financial

Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, a federally chartered community bank headquartered in Riverside, California. The bank serves individuals, families and businesses primarily in Southern California, with a focus on the Inland Empire and surrounding communities.

Provident Savings Bank offers a range of traditional banking products and services, including deposit accounts, residential mortgage loans, home equity financing, consumer loans and commercial real estate lending.