Provident Financial (NASDAQ:PROV) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.69 and traded as high as $15.01. Provident Financial shares last traded at $14.87, with a volume of 4,509 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PROV. StockNews.com began coverage on Provident Financial in a report on Tuesday. They issued a “hold” rating for the company. Piper Sandler upped their price target on Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th.

Provident Financial Stock Performance

The firm has a market capitalization of $100.52 million, a price-to-earnings ratio of 13.64 and a beta of 0.38. 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 firm has a 50 day moving average price of $15.90 and a 200-day moving average price of $14.69.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. The company had revenue of $14.97 million for the quarter, compared to the consensus estimate of $9.74 million. During the same period in the prior year, the firm posted $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 fiscal year.

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.77%. Provident Financial’s dividend payout ratio is presently 51.38%.

Institutional Trading of Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC grew its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,657 shares of the financial services provider’s stock after purchasing an additional 1,206 shares during the period. Empowered Funds LLC owned approximately 0.38% of Provident Financial worth $368,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.