Provident Financial (NASDAQ:PROV) SVP Sells $46,771.84 in Stock

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 2,732 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $17.12, for a total value of $46,771.84. Following the completion of the sale, the senior vice president directly owned 6,175 shares in the company, valued at approximately $105,716. This represents a 30.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, June 8th, David Weiant sold 1,012 shares of Provident Financial stock. The shares were sold at an average price of $17.00, for a total value of $17,204.00.
• 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 value of $17,100.00.

Provident Financial Trading Up 0.8%

Shares of PROV opened at $17.11 on Friday. The stock has a fifty day moving average price of $17.01 and a two-hundred day moving average price of $16.33. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.20 and a current ratio of 1.20. Provident Financial Holdings, Inc. has a 52-week low of $14.95 and a 52-week high of $17.42. The company has a market cap of $106.94 million, a price-to-earnings ratio of 18.60 and a beta of 0.33.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data 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). 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 Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Provident Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fourthstone LLC raised its position in shares of Provident Financial by 52.6% during the fourth 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 last quarter. Bridgeway Capital Management LLC raised its position in shares of Provident Financial by 2.8% during the fourth 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 last quarter. Empowered Funds LLC raised its position in shares of Provident Financial by 7.6% during the first 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 last quarter. Federated Hermes Inc. raised its position in shares of Provident Financial by 13.2% during the fourth 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 last quarter. Finally, Susquehanna International Group LLP bought a new stake in shares of Provident Financial during the third quarter worth $273,000. Institutional investors own 71.34% of the company’s stock.

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.