Provident Financial (NASDAQ:PROV) SVP Sells $17,204.00 in Stock

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 1,012 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $17.00, for a total transaction of $17,204.00. Following the completion of the sale, the senior vice president directly owned 8,907 shares in the company, valued at $151,419. This represents a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

David Weiant also recently made the following trade(s):

• On Wednesday, June 10th, David Weiant sold 2,732 shares of Provident Financial stock. The shares were sold at an average price of $17.12, for a total transaction of $46,771.84.
• On Thursday, June 4th, David Weiant sold 1,000 shares of Provident Financial stock. The shares were sold at an average price of $17.10, for a total transaction of $17,100.00.

Provident Financial Trading Down 0.5%

PROV opened at $16.97 on Friday. The stock has a market capitalization of $106.06 million, a PE ratio of 18.45 and a beta of 0.33. The firm’s fifty day moving average price is $16.99 and its 200 day moving average price is $16.33. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.20 and a quick ratio of 1.20. Provident Financial Holdings, Inc. has a 12-month low of $14.95 and a 12-month high of $17.42.

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

Provident Financial Announces Dividend

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

Institutional Trading of Provident Financial

A number of large investors have recently modified their holdings of the company. Empowered Funds LLC increased its holdings in shares of Provident Financial by 7.6% in the 1st quarter. Empowered Funds LLC now owns 33,854 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 2,400 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Provident Financial by 2.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 1,834 shares during the period. Fourthstone LLC increased its holdings in shares of Provident Financial by 52.6% in the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after acquiring an additional 121,329 shares during the period. Federated Hermes Inc. increased its holdings in shares of Provident Financial by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after acquiring an additional 3,459 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in shares of Provident Financial in the 3rd quarter worth about $273,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Provident Financial in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Provident Financial has a consensus rating of “Hold” and a consensus price target 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.