Provident Financial (NASDAQ:PROV) Shares Pass Above 200 Day Moving Average – What’s Next?

Provident Financial Holdings, Inc. (NASDAQ:PROV) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.05 and traded as high as $15.86. Provident Financial shares last traded at $15.78, with a volume of 12,244 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PROV shares. Piper Sandler dropped their target price on Provident Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. StockNews.com started coverage on Provident Financial in a report on Friday. They set a “hold” rating for the company.

Provident Financial Price Performance

The firm has a fifty day moving average of $15.84 and a two-hundred day moving average of $15.07. The company has a market capitalization of $106.06 million, a PE ratio of 17.24 and a beta of 0.39. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Provident Financial had a net margin of 10.39% and a return on equity of 4.80%. During the same period in the prior year, the business posted $0.31 EPS. Research analysts anticipate that Provident Financial Holdings, Inc. will post 0.9 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 13th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Thursday, February 13th. Provident Financial’s dividend payout ratio is currently 61.54%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in Provident Financial by 4.9% during the 3rd quarter. Empowered Funds LLC now owns 25,657 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 1,206 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Provident Financial by 25.9% in the 4th quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock worth $421,000 after buying an additional 5,445 shares during the last quarter. Fourthstone LLC bought a new position in Provident Financial in the 3rd quarter worth $991,000. The Manufacturers Life Insurance Company raised its holdings in Provident Financial by 7.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock worth $5,326,000 after purchasing an additional 23,117 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Provident Financial by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider’s stock worth $7,737,000 after purchasing an additional 1,342 shares during the period. Institutional investors own 71.34% of the company’s stock.

Provident Financial Company Profile

Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. The company's deposit products include checking, savings, and money market accounts, as well as time deposits; and loan portfolio consists of single-family, multi-family, commercial real estate, construction, mortgage, commercial business, and consumer loans.