Provident Financial (NASDAQ:PROV) Stock Crosses Above 200-Day Moving Average of $13.19

Provident Financial Holdings, Inc. (NASDAQ:PROV)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $13.19 and traded as high as $14.25. Provident Financial shares last traded at $14.24, with a volume of 8,560 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PROV shares. StockNews.com started coverage on shares of Provident Financial in a research note on Friday. They set a “hold” rating on the stock. Piper Sandler lifted their price target on Provident Financial from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

Provident Financial Stock Up 0.6 %

The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s fifty day simple moving average is $12.95 and its two-hundred day simple moving average is $13.19. The company has a market capitalization of $97.94 million, a price-to-earnings ratio of 13.69 and a beta of 0.39.

Provident Financial (NASDAQ:PROV) last released its earnings results on Monday, July 29th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.23 by $0.05. The business had revenue of $15.38 million during the quarter, compared to analyst estimates of $9.57 million. Provident Financial had a net margin of 12.53% and a return on equity of 5.68%. During the same period in the prior year, the business earned $0.26 earnings per share. On average, sell-side analysts anticipate that Provident Financial Holdings, Inc. will post 1 EPS for the current year.

Provident Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, August 15th. Provident Financial’s payout ratio is 53.85%.

Institutional Investors Weigh In On Provident Financial

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

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.