Provident Financial (NASDAQ:PROV) Stock Price Crosses Above Two Hundred Day Moving Average of $13.19

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $13.19 and traded as high as $14.40. Provident Financial shares last traded at $14.40, with a volume of 2,084 shares.

Analyst Ratings Changes

A number of research analysts recently issued reports on PROV shares. Piper Sandler boosted their target price on shares of Provident Financial from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com started coverage on Provident Financial in a report on Sunday, September 15th. They issued a “hold” rating for the company.

Provident Financial Stock Performance

The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.84. The firm’s fifty day moving average price is $13.63 and its two-hundred day moving average price is $13.19. The stock has a market capitalization of $99.04 million, a PE ratio of 13.85 and a beta of 0.40.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. Provident Financial had a net margin of 12.53% and a return on equity of 5.67%. The company had revenue of $15.38 million during the quarter, compared to analysts’ expectations of $9.57 million. During the same quarter in the previous year, the company earned $0.26 earnings per share. As a group, equities research analysts forecast that Provident Financial Holdings, Inc. will post 1 EPS for the current year.

Provident Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.56 dividend on an annualized basis and a yield of 3.89%. Provident Financial’s dividend payout ratio is currently 53.85%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC grew its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,831 shares of the financial services provider’s stock after purchasing an additional 1,575 shares during the quarter. Empowered Funds LLC owned approximately 0.33% of Provident Financial worth $305,000 as of its most recent SEC filing. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

About Provident Financial

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.