Provident Financial (NASDAQ:PROV) Stock: Insider Craig Blunden Sells 5,700 Shares

Provident Financial Holdings, Inc. (NASDAQ:PROV) Director Craig Blunden sold 5,700 shares of Provident Financial stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $18.20, for a total transaction of $103,740.00. Following the completion of the sale, the director owned 202,284 shares of the company’s stock, valued at $3,681,568.80. This trade represents a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Provident Financial Stock Performance

NASDAQ PROV traded up $0.06 during trading on Monday, reaching $18.26. The company’s stock had a trading volume of 3,593 shares, compared to its average volume of 10,170. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $113.15 million, a price-to-earnings ratio of 17.75 and a beta of 0.33. Provident Financial Holdings, Inc. has a 12 month low of $14.95 and a 12 month high of $18.99. The firm has a 50 day moving average price of $18.34 and a 200 day moving average price of $17.25.

Provident Financial (NASDAQ:PROV) last announced its earnings results on Tuesday, October 27th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.07). Provident Financial had a return on equity of 5.16% and a net margin of 10.88%. The business had revenue of $10.57 million for the quarter, compared to analyst estimates of $10.30 million. As a group, equities analysts anticipate that Provident Financial Holdings, Inc. will post 1.24 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Thursday, November 12th. Provident Financial’s payout ratio is 54.37%.

Analyst Ratings Changes

PROV has been the topic of a number of analyst reports. Weiss Ratings raised Provident Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, October 16th. Piper Sandler lifted their price objective on Provident Financial from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Zacks Research upgraded Provident Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 3rd. Finally, Wall Street Zen raised Provident Financial to a “hold” rating in a report on Saturday, October 3rd. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $18.00.

Hedge Funds Weigh In On Provident Financial

Hedge funds have recently bought and sold shares of the company. Raffles Associates LP acquired a new position in shares of Provident Financial in the 2nd quarter valued at approximately $6,727,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Provident Financial during the 2nd quarter worth approximately $5,224,000. BlackRock Inc. acquired a new stake in shares of Provident Financial during the 2nd quarter worth approximately $4,844,000. Empowered Funds LLC bought a new position in Provident Financial in the second quarter valued at approximately $595,000. Finally, Susquehanna International Group LLP increased its stake in Provident Financial by 73.9% in the second quarter. Susquehanna International Group LLP now owns 32,363 shares of the financial services provider’s stock valued at $557,000 after acquiring an additional 13,756 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

About Provident Financial

Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, a federally chartered community bank headquartered in Riverside, California. The bank serves individuals, families and businesses primarily in Southern California, with a focus on the Inland Empire and surrounding communities.

Provident Savings Bank offers a range of traditional banking products and services, including deposit accounts, residential mortgage loans, home equity financing, consumer loans and commercial real estate lending.