Provident Financial (NASDAQ:PROV) Shares Cross Above Two Hundred Day Moving Average of $12.99

Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.99 and traded as high as $13.52. Provident Financial shares last traded at $13.30, with a volume of 1,056 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Provident Financial in a research note on Tuesday. They issued a “hold” rating on the stock.

Provident Financial Stock Down 1.4 %

The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a 50 day moving average price of $13.96 and a 200 day moving average price of $12.99. The company has a market cap of $92.17 million, a P/E ratio of 11.57 and a beta of 0.40.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Provident Financial had a return on equity of 6.20% and a net margin of 14.43%. The company had revenue of $9.65 million for the quarter, compared to the consensus estimate of $10.00 million. Research analysts expect that Provident Financial Holdings, Inc. will post 1.05 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Wednesday, February 14th. Provident Financial’s dividend payout ratio (DPR) is presently 48.70%.

Institutional Investors Weigh In On Provident Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of Provident Financial by 49,616.7% during the first quarter. Bank of America Corp DE now owns 5,966 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 5,954 shares during the period. Royal Bank of Canada raised its position in shares of Provident Financial by 8.4% during the third quarter. Royal Bank of Canada now owns 15,500 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 1,200 shares during the period. Northern Trust Corp raised its position in shares of Provident Financial by 10.0% during the second quarter. Northern Trust Corp now owns 18,063 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 1,647 shares during the period. Prelude Capital Management LLC acquired a new stake in shares of Provident Financial during the third quarter worth $251,000. Finally, Federated Hermes Inc. raised its position in Provident Financial by 4.8% during the third quarter. Federated Hermes Inc. now owns 25,798 shares of the financial services provider’s stock valued at $338,000 after buying an additional 1,173 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

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.