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

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.05 and traded as high as $15.86. Provident Financial shares last traded at $15.78, with a volume of 12,244 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com assumed coverage on Provident Financial in a research note on Friday. They issued a “hold” rating for the company. Piper Sandler cut their target price on Provident Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th.

Provident Financial Stock Performance

The company has a market cap of $106.67 million, a PE ratio of 17.34 and a beta of 0.39. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.93. The company has a 50-day moving average of $15.84 and a 200-day moving average of $15.05.

Provident Financial (NASDAQ:PROV) last announced 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 firm posted $0.31 EPS. As a group, analysts anticipate that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current year.

Provident Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 13th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.56 annualized dividend and a yield of 3.55%. Provident Financial’s dividend payout ratio is currently 61.54%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC boosted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 about 0.38% of Provident Financial worth $368,000 as of its most recent SEC filing. Hedge funds and other 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.