Provident Financial (NASDAQ:PROV) SVP David Weiant Sells 1,000 Shares

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $17.10, for a total value of $17,100.00. Following the completion of the sale, the senior vice president owned 9,919 shares of the company’s stock, valued at approximately $169,614.90. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Provident Financial Stock Up 0.8%

Shares of PROV traded up $0.14 during trading hours on Friday, hitting $17.06. The stock had a trading volume of 8,334 shares, compared to its average volume of 8,036. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a 50 day simple moving average of $16.90 and a 200-day simple moving average of $16.26. The firm has a market capitalization of $106.59 million, a P/E ratio of 18.54 and a beta of 0.33. Provident Financial Holdings, Inc. has a 1-year low of $14.95 and a 1-year high of $17.42.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.08). Provident Financial had a net margin of 10.27% and a return on equity of 4.77%. The business had revenue of $14.57 million during the quarter, compared to the consensus estimate of $10.10 million.

Provident Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.56 annualized dividend and a yield of 3.3%. Provident Financial’s dividend payout ratio (DPR) is presently 60.87%.

Hedge Funds Weigh In On Provident Financial

Hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP bought a new position in shares of Provident Financial during the 3rd quarter worth approximately $273,000. Empowered Funds LLC lifted its position in shares of Provident Financial by 7.9% during the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after buying an additional 2,120 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Provident Financial by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after buying an additional 3,459 shares in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Provident Financial by 2.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock worth $1,060,000 after buying an additional 1,834 shares in the last quarter. Finally, Fourthstone LLC lifted its position in shares of Provident Financial by 52.6% during the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after buying an additional 121,329 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Provident Financial in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Provident Financial currently has an average rating of “Hold” and an average target price of $16.00.

Provident Financial Company Profile

Provident Financial Services, Inc (NASDAQ: PROV) is a bank holding company headquartered in Jersey City, New Jersey, that conducts its operations through its wholly owned subsidiary, Provident Bank. With origins dating back to 1839, the company has grown into a full-service financial institution offering a broad spectrum of products and services to individuals, small businesses and commercial clients.

The company’s principal business activities include retail banking, commercial lending, mortgage finance and wealth management.