Provident Financial (NASDAQ:PROV) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

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 $13.60 and traded as high as $15.90. Provident Financial shares last traded at $15.90, with a volume of 801 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. StockNews.com initiated coverage on Provident Financial in a research report on Thursday, November 7th. They issued a “hold” rating on the stock. Piper Sandler increased their price objective on shares of Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th.

Provident Financial Stock Performance

The company has a market cap of $107.48 million, a P/E ratio of 14.59 and a beta of 0.39. The stock has a fifty day moving average price of $14.92 and a two-hundred day moving average price of $13.61. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.23.

Provident Financial (NASDAQ:PROV) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share for the quarter, beating 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 firm had revenue of $14.97 million for the quarter, compared to the consensus estimate of $9.74 million. During the same quarter in the previous year, the business earned $0.25 EPS. On average, equities analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.52%. Provident Financial’s dividend payout ratio is presently 51.38%.

Institutional Trading of Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC increased its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,831 shares of the financial services provider’s stock after purchasing an additional 1,575 shares during the period. Empowered Funds LLC owned 0.33% of Provident Financial worth $305,000 at the end of the most recent quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.