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 Provident Financial stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $17.10, for a total transaction of $17,100.00. Following the transaction, the senior vice president directly owned 9,919 shares in the company, valued at approximately $169,614.90. This represents a 9.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Provident Financial Stock Performance

Shares of Provident Financial stock traded up $0.14 during mid-day trading on Friday, hitting $17.06. 8,334 shares of the stock were exchanged, compared to its average volume of 8,036. Provident Financial Holdings, Inc. has a 12 month low of $14.95 and a 12 month high of $17.42. The company has a 50-day simple moving average of $16.90 and a 200 day simple moving average of $16.26. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $106.59 million, a P/E ratio of 18.54 and a beta of 0.33.

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

Provident Financial Announces Dividend

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

Institutional Investors Weigh In On Provident Financial

A number of hedge funds have recently modified their holdings of PROV. Empowered Funds LLC raised its holdings in shares of Provident Financial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 2,120 shares during the period. Susquehanna International Group LLP purchased a new position in Provident Financial in the 3rd quarter valued at approximately $273,000. Federated Hermes Inc. grew its stake in Provident Financial by 13.2% in the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock valued at $472,000 after buying an additional 3,459 shares in the last quarter. Fourthstone LLC grew its stake in Provident Financial by 52.6% in the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock valued at $5,603,000 after buying an additional 121,329 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in 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 valued at $1,060,000 after buying an additional 1,834 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 report on Tuesday, April 21st. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average 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.