Provident Financial (NASDAQ:PROV) SVP Gwendolyn Wertz Sells 4,800 Shares

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP Gwendolyn Wertz sold 4,800 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $15.64, for a total transaction of $75,072.00. Following the completion of the sale, the senior vice president directly owned 20,537 shares in the company, valued at approximately $321,198.68. The trade was a 18.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Provident Financial Trading Down 0.9%

Shares of PROV stock traded down $0.14 on Friday, reaching $15.45. The company had a trading volume of 487 shares, compared to its average volume of 6,272. Provident Financial Holdings, Inc. has a 12 month low of $12.98 and a 12 month high of $16.70. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.66. The stock has a market cap of $100.02 million, a PE ratio of 17.17 and a beta of 0.42. The company has a 50-day moving average of $15.65 and a 200-day moving average of $15.47.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.04). Provident Financial had a return on equity of 4.69% and a net margin of 10.04%.The firm had revenue of $14.15 million for the quarter, compared to the consensus estimate of $10.20 million. On average, equities analysts forecast that Provident Financial Holdings, Inc. will post 0.9 earnings per share for the current year.

Provident Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.56 annualized dividend and a yield of 3.6%. Provident Financial’s payout ratio is presently 62.22%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC lifted its position in shares of Provident Financial by 7.9% during the first quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock valued at $424,000 after buying an additional 2,120 shares during the last quarter. Fourthstone LLC raised its position in shares of Provident Financial by 31.4% in the 2nd quarter. Fourthstone LLC now owns 115,210 shares of the financial services provider’s stock valued at $1,786,000 after purchasing an additional 27,556 shares during the last quarter. Finally, M3F Inc. grew its position in Provident Financial by 0.5% during the 1st quarter. M3F Inc. now owns 438,215 shares of the financial services provider’s stock worth $6,394,000 after purchasing an additional 2,215 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on PROV shares. Piper Sandler dropped their price target on Provident Financial from $16.50 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Zacks Research lowered Provident Financial from a “hold” rating to a “strong sell” rating in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Provident Financial in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $16.00.

Provident Financial Company Profile

Provident Financial Holdings, Inc operates as the holding company for Provident Savings Bank, F.S.B. that provides community banking services to consumers and small to mid-sized businesses in the Inland Empire region of Southern California. The company's deposit products include checking, savings, and money market accounts, as well as time deposits; and loan portfolio consists of single-family, multi-family, commercial real estate, construction, mortgage, commercial business, and consumer loans.