Provident Financial (NASDAQ:PROV) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Provident Financial Holdings, Inc. (NASDAQ:PROV) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.73 and traded as high as $16.21. Provident Financial shares last traded at $16.09, with a volume of 3,769 shares.

Analysts Set New Price Targets

A number of research firms have issued reports on PROV. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Provident Financial in a report on Thursday, January 22nd. Zacks Research raised Provident Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.00.

Provident Financial Stock Down 0.6%

The firm has a 50 day moving average of $16.10 and a 200-day moving average of $15.74. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $102.08 million, a P/E ratio of 16.16 and a beta of 0.32.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.08). The firm had revenue of $14.87 million for the quarter, compared to analyst estimates of $10.10 million. Provident Financial had a return on equity of 5.14% and a net margin of 10.97%. On average, equities research analysts expect that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, February 12th. This represents a $0.56 dividend on an annualized basis and a yield of 3.5%. Provident Financial’s payout ratio is currently 56.57%.

Hedge Funds Weigh In On Provident Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bridgeway Capital Management LLC boosted its position in shares of Provident Financial by 2.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock valued at $1,060,000 after acquiring an additional 1,834 shares in the last quarter. Empowered Funds LLC lifted its stake in Provident Financial by 6.2% during the fourth quarter. Empowered Funds LLC now owns 31,454 shares of the financial services provider’s stock worth $500,000 after purchasing an additional 1,834 shares during the period. Federated Hermes Inc. boosted its holdings in Provident Financial by 13.2% during the fourth quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 3,459 shares in the last quarter. Susquehanna International Group LLP bought a new stake in shares of Provident Financial in the 3rd quarter valued at approximately $273,000. Finally, Fourthstone LLC grew its stake in shares of Provident Financial by 31.4% in the 2nd quarter. Fourthstone LLC now owns 115,210 shares of the financial services provider’s stock valued at $1,786,000 after purchasing an additional 27,556 shares during the period. 71.34% of the stock is owned by institutional investors.

About Provident Financial

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.