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

Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.96 and traded as high as $15.98. Provident Financial shares last traded at $15.95, with a volume of 14,193 shares trading hands.

Analyst Ratings Changes

PROV has been the subject of several recent research reports. Piper Sandler decreased their price objective 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 initiated coverage on Provident Financial in a report on Thursday. They issued a “hold” rating for the company.

Provident Financial Price Performance

The firm has a fifty day moving average of $15.88 and a two-hundred day moving average of $14.96. 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 stock has a market capitalization of $107.87 million, a P/E ratio of 17.53 and a beta of 0.39.

Provident Financial (NASDAQ:PROV) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the business posted $0.31 earnings per share. On average, analysts predict that Provident Financial Holdings, Inc. will post 0.9 EPS for the current year.

Provident Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 13th will be paid a $0.14 dividend. The ex-dividend date is Thursday, February 13th. This represents a $0.56 annualized dividend and a yield of 3.51%. Provident Financial’s dividend payout ratio (DPR) is presently 61.54%.

Hedge Funds Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC raised its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 0.38% of Provident Financial worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 71.34% of the company’s stock.

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.