Provident Financial (NASDAQ:PROV) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Provident Financial Holdings, Inc. (NASDAQ:PROV) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.23 and traded as high as $15.50. Provident Financial shares last traded at $15.47, with a volume of 1,612 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen assumed coverage on shares of Provident Financial in a research report on Wednesday, May 21st. They issued a “hold” rating on the stock.

Provident Financial Stock Performance

The firm has a market capitalization of $103.49 million, a P/E ratio of 15.95 and a beta of 0.34. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a 50-day moving average price of $15.02 and a two-hundred day moving average price of $15.23.

Provident Financial (NASDAQ:PROV) last issued its earnings results on Monday, April 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. The company had revenue of $10.12 million for the quarter, compared to analysts’ expectations of $9.86 million. Provident Financial had a net margin of 10.87% and a return on equity of 5.09%. On average, analysts forecast that Provident Financial Holdings, Inc. will post 0.9 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 15th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.56 annualized dividend and a dividend yield of 3.62%. Provident Financial’s dividend payout ratio (DPR) is presently 57.73%.

Insider Buying and Selling at Provident Financial

In other news, SVP Gwendolyn Wertz sold 1,940 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $15.40, for a total transaction of $29,876.00. Following the sale, the senior vice president now owns 25,337 shares in the company, valued at approximately $390,189.80. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.41% of the stock is owned by insiders.

Institutional Trading of Provident Financial

Several large investors have recently bought and sold shares of PROV. Northern Trust Corp raised its holdings in shares of Provident Financial by 25.9% in the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock worth $421,000 after buying an additional 5,445 shares during the last quarter. Empowered Funds LLC increased its position in shares of Provident Financial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock valued at $424,000 after acquiring an additional 2,120 shares during the period. Black Maple Capital Management LP raised its stake in Provident Financial by 8.9% in the 4th quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock worth $495,000 after acquiring an additional 2,557 shares during the last quarter. Fourthstone LLC lifted its position in Provident Financial by 30.5% during the 4th quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 21,030 shares during the period. Finally, The Manufacturers Life Insurance Company grew 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 purchasing an additional 23,117 shares during the last quarter. Hedge funds and other 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.