Provident Financial (NASDAQ:PROV) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.32 and traded as high as $16.01. Provident Financial shares last traded at $15.91, with a volume of 4,763 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Provident Financial from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. StockNews.com began coverage on Provident Financial in a research report on Saturday. They issued a “hold” rating for the company.

Provident Financial Stock Down 1.4 %

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 market capitalization of $107.60 million, a price-to-earnings ratio of 14.60 and a beta of 0.38. The firm’s 50-day moving average price is $15.90 and its 200 day moving average price is $14.32.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share 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 company had revenue of $14.97 million during the quarter, compared to the consensus estimate of $9.74 million. During the same quarter last year, the business posted $0.25 earnings per share. Sell-side analysts expect that Provident Financial Holdings, Inc. will post 1.05 EPS for the current year.

Provident Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, November 14th. Provident Financial’s payout ratio is 51.38%.

Institutional Investors Weigh In On Provident Financial

A hedge fund recently bought a new stake in Provident Financial stock. Fourthstone LLC bought a new position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 69,050 shares of the financial services provider’s stock, valued at approximately $991,000. Fourthstone LLC owned about 1.02% of Provident Financial as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors 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.