Provident Financial (NASDAQ:PROV) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Provident Financial Holdings, Inc. (NASDAQ:PROV) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.26 and traded as high as $15.98. Provident Financial shares last traded at $15.42, with a volume of 7,747 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on Provident Financial in a research note on Wednesday, May 21st. They set a “hold” rating for the company.

Provident Financial Price Performance

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $103.18 million, a P/E ratio of 16.95 and a beta of 0.34. The business has a fifty day simple moving average of $14.84 and a 200 day simple moving average of $15.26.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Monday, April 28th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.24 by $0.04. The firm had revenue of $10.12 million during the quarter, compared to the consensus estimate of $9.86 million. Provident Financial had a net margin of 10.39% and a return on equity of 4.81%. On average, analysts expect that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current year.

Provident Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Thursday, May 15th. Provident Financial’s dividend payout ratio (DPR) is currently 57.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PROV. Empowered Funds LLC lifted its holdings in Provident Financial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 2,120 shares in the last quarter. M3F Inc. grew its position in shares of Provident Financial by 0.5% in the 1st quarter. M3F Inc. now owns 438,215 shares of the financial services provider’s stock worth $6,394,000 after buying an additional 2,215 shares during the last quarter. Black Maple Capital Management LP raised its stake in Provident Financial by 8.9% in the fourth quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock valued at $495,000 after buying an additional 2,557 shares during the last quarter. Northern Trust Corp increased its position in shares of Provident Financial by 25.9% in the 4th quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock valued at $421,000 after acquiring an additional 5,445 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Provident Financial by 7.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock valued at $5,326,000 after acquiring an additional 23,117 shares during the period. Institutional investors own 71.34% of the company’s stock.

Provident Financial Company Profile

Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. The company's deposit products include checking, savings, and money market accounts, as well as time deposits; and loan portfolio consists of single-family, multi-family, commercial real estate, construction, mortgage, commercial business, and consumer loans.