Provident Financial (NASDAQ:PROV) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.80 and traded as high as $16.36. Provident Financial shares last traded at $16.02, with a volume of 8,320 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PROV shares. Weiss Ratings reissued a “hold (c)” rating on shares of Provident Financial in a report on Thursday, January 22nd. Zacks Research upgraded shares of Provident Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.00.

Provident Financial Price Performance

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 firm has a market capitalization of $102.72 million, a PE ratio of 16.26 and a beta of 0.32. The company has a 50-day moving average price of $16.11 and a 200-day moving average price of $15.80.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.22 earnings per share (EPS) 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 analysts’ expectations of $10.10 million. Provident Financial had a net margin of 10.97% and a return on equity of 5.14%. Sell-side analysts forecast that Provident Financial Holdings, Inc. will post 0.9 EPS for the current year.

Provident Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 12th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, February 12th. This represents a $0.56 annualized dividend and a dividend yield of 3.5%. Provident Financial’s dividend payout ratio (DPR) is 56.57%.

Hedge Funds Weigh In On Provident Financial

Large investors have recently added to or reduced their stakes in the business. Fourthstone LLC boosted its stake in Provident Financial by 52.6% in the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after buying an additional 121,329 shares during the last quarter. Bridgeway Capital Management LLC increased its stake 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 during the last quarter. Empowered Funds LLC lifted its holdings in shares of Provident Financial by 6.2% during the 4th quarter. Empowered Funds LLC now owns 31,454 shares of the financial services provider’s stock worth $500,000 after acquiring an additional 1,834 shares during the period. Federated Hermes Inc. boosted its position in shares of Provident Financial by 13.2% in the fourth quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after acquiring an additional 3,459 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in Provident Financial in the third quarter valued at approximately $273,000. 71.34% of the stock is currently owned by hedge funds and other 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.