Insider Selling: Provident Financial (NASDAQ:PROV) SVP Sells 2,732 Shares of Stock

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 2,732 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $17.12, for a total transaction of $46,771.84. Following the transaction, the senior vice president directly owned 6,175 shares of the company’s stock, valued at approximately $105,716. This trade represents a 30.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

David Weiant also recently made the following trade(s):

• On Monday, June 8th, David Weiant sold 1,012 shares of Provident Financial stock. The shares were sold at an average price of $17.00, for a total transaction of $17,204.00.
• On Thursday, June 4th, David Weiant sold 1,000 shares of Provident Financial stock. The shares were sold at an average price of $17.10, for a total transaction of $17,100.00.

Provident Financial Stock Performance

Shares of NASDAQ:PROV traded up $0.05 during trading hours on Wednesday, hitting $17.11. The stock had a trading volume of 6,137 shares, compared to its average volume of 8,103. The stock’s fifty day simple moving average is $16.95 and its 200 day simple moving average is $16.30. Provident Financial Holdings, Inc. has a 1-year low of $14.95 and a 1-year high of $17.42. The firm has a market capitalization of $106.91 million, a price-to-earnings ratio of 18.59 and a beta of 0.33. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.20 and a current ratio of 1.20.

Provident Financial (NASDAQ:PROV) last announced its quarterly 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). Provident Financial had a net margin of 10.27% and a return on equity of 4.77%. The firm had revenue of $14.57 million during the quarter, compared to analyst estimates of $10.10 million.

Provident Financial Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its position in Provident Financial by 6.2% in the fourth quarter. Empowered Funds LLC now owns 31,454 shares of the financial services provider’s stock worth $500,000 after buying an additional 1,834 shares during the last quarter. Fourthstone LLC grew its position in Provident Financial by 52.6% during the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after purchasing an additional 121,329 shares in the last quarter. Bridgeway Capital Management LLC grew its position in 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 worth $1,060,000 after purchasing an additional 1,834 shares in the last quarter. Federated Hermes Inc. grew its position in Provident Financial by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 3,459 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in Provident Financial during the 3rd quarter worth approximately $273,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Provident Financial Company Profile

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.