Provident Financial (NASDAQ:PROV) Shares Pass Above 200 Day Moving Average – Time to Sell?

by · The Markets Daily

Provident Financial Holdings, Inc. (NASDAQ:PROV – Get Free Report)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.18 and traded as high as $16.65. Provident Financial shares last traded at $16.41, with a volume of 4,193 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PROV. StockNews.com started coverage on Provident Financial in a report on Friday. They issued a “hold” rating on the stock. Piper Sandler lifted their target price on Provident Financial from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th.

Check Out Our Latest Analysis on PROV

Provident Financial Price Performance

The stock has a market cap of $111.18 million, a P/E ratio of 15.08 and a beta of 0.38. The company’s 50 day moving average price is $15.77 and its 200-day moving average price is $14.20. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.93.

Provident Financial (NASDAQ:PROV – Get Free Report) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. The business had revenue of $14.97 million during the quarter, compared to analyst estimates of $9.74 million. During the same period last year, the company earned $0.25 EPS. As a group, sell-side analysts expect that Provident Financial Holdings, Inc. will post 1.05 earnings per share for the current year.

Provident Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.41%. The ex-dividend date was Thursday, November 14th. Provident Financial’s payout ratio is presently 51.38%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Provident Financial stock. Fourthstone LLC acquired a new position in Provident Financial Holdings, Inc. (NASDAQ:PROV – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 69,050 shares of the financial services provider’s stock, valued at approximately $991,000. Fourthstone LLC owned approximately 1.02% of Provident Financial at the end of the most recent quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Provident Financial Company Profile

(Get Free Report)

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.

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