Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV – Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.38 and traded as high as $17.15. Provident Financial shares last traded at $17.09, with a volume of 4,762 shares.
Analyst Ratings Changes
Separately, Weiss Ratings restated a “hold (c)” rating on shares of Provident Financial in a research note on Tuesday, April 21st. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, Provident Financial currently has an average rating of “Hold” and an average price target of $16.00.
Read Our Latest Stock Report on PROV
Provident Financial Stock Performance
Provident Financial (NASDAQ:PROV – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). Provident Financial had a net margin of 10.27% and a return on equity of 4.77%. The company had revenue of $14.57 million for the quarter, compared to analyst estimates of $10.10 million.
Provident Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Thursday, May 14th. Provident Financial’s dividend payout ratio (DPR) is 60.87%.
Insider Buying and Selling
In other Provident Financial news, SVP David Weiant sold 2,732 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.12, for a total value of $46,771.84. Following the sale, the senior vice president directly owned 6,175 shares in the company, valued at $105,716. This represents a 30.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 4,744 shares of company stock valued at $81,076. 11.49% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in PROV. Susquehanna International Group LLP bought a new stake in shares of Provident Financial in the 3rd quarter worth about $273,000. Empowered Funds LLC grew its stake in Provident Financial by 7.9% during the first quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after buying an additional 2,120 shares during the last quarter. Federated Hermes Inc. grew its stake 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 worth $472,000 after buying an additional 3,459 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Provident Financial by 2.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 1,834 shares in the last quarter. Finally, Fourthstone LLC increased its holdings in shares of Provident Financial by 52.6% during the fourth 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 in the last quarter. 71.34% of the stock is owned by institutional investors.
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.
Read More
- Five stocks we like better than Provident Financial
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
- Why Palantir’s Google Cloud Deal Could Change the Debate
Receive News & Ratings for Provident Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provident Financial and related companies with MarketBeat.com's FREE daily email newsletter.
