Provident Financial (NASDAQ:PROV) Shares Pass Above 200-Day Moving Average – Time to 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 $16.12 and traded as high as $17.15. Provident Financial shares last traded at $16.97, with a volume of 4,106 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Provident Financial in a report on Tuesday, April 21st. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Provident Financial has a consensus rating of “Hold” and an average price target of $16.00.

Provident Financial Price Performance

The stock has a market capitalization of $106.06 million, a price-to-earnings ratio of 18.45 and a beta of 0.34. The company has a 50 day moving average of $16.64 and a 200 day moving average of $16.12. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.45.

Provident Financial (NASDAQ:PROV) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.08). The business had revenue of $14.57 million during the quarter, compared to analyst estimates of $10.10 million. Provident Financial had a net margin of 10.27% and a return on equity of 4.77%.

Provident Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 14th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.3%. The ex-dividend date is Thursday, May 14th. Provident Financial’s dividend payout ratio is presently 60.87%.

Hedge Funds Weigh In On Provident Financial

Institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP acquired a new position in Provident Financial in the third quarter valued at $273,000. Empowered Funds LLC increased its stake in Provident Financial by 7.9% in the first quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 2,120 shares during the last quarter. Federated Hermes Inc. increased its stake in Provident Financial by 13.2% in 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 during the last quarter. Bridgeway Capital Management LLC increased its stake in Provident Financial by 2.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 1,834 shares during the last quarter. Finally, Fourthstone LLC increased its stake in Provident Financial by 52.6% in the fourth quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock valued at $5,603,000 after purchasing an additional 121,329 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.