Provident Financial (NASDAQ:PROV) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of 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 $14.69 and traded as high as $15.01. Provident Financial shares last traded at $14.87, with a volume of 4,509 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PROV. StockNews.com initiated coverage on shares of Provident Financial in a research report on Tuesday. They set a “hold” rating on the stock. Piper Sandler upped their price target on shares of Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th.

Provident Financial Stock Up 1.1 %

The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $103.23 million, a price-to-earnings ratio of 14.01 and a beta of 0.38. The business has a fifty day moving average price of $15.88 and a two-hundred day moving average price of $14.71.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $14.97 million during the quarter, compared to analysts’ expectations of $9.74 million. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. During the same period in the previous year, the business posted $0.25 EPS. On average, equities analysts expect that Provident Financial Holdings, Inc. will post 1.05 earnings per share for the current year.

Provident Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.67%. Provident Financial’s payout ratio is 51.38%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC lifted its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,657 shares of the financial services provider’s stock after purchasing an additional 1,206 shares during the period. Empowered Funds LLC owned about 0.38% of Provident Financial worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 71.34% of the stock is owned by institutional investors and hedge funds.

About Provident Financial

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.