Provident Financial (NASDAQ:PROV) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Provident Financial Holdings, Inc. (NASDAQ:PROV) shares crossed 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PROV. Piper Sandler lowered their price objective on Provident Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. StockNews.com began coverage on Provident Financial in a research report on Friday. They set a “hold” rating for the company.

Provident Financial Stock Down 1.1 %

The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $106.67 million, a P/E ratio of 17.34 and a beta of 0.39. The stock has a 50-day moving average price of $15.84 and a 200-day moving average price of $15.05.

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

Provident Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 13th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.56 dividend on an annualized basis and a yield of 3.55%. Provident Financial’s payout ratio is currently 61.54%.

Institutional Investors Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Fourthstone LLC raised its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 30.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 90,080 shares of the financial services provider’s stock after acquiring an additional 21,030 shares during the period. Fourthstone LLC owned approximately 1.33% of Provident Financial worth $1,433,000 as of its most recent filing with the SEC. 71.34% of the stock is owned by institutional investors.

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.