Provident Financial (NASDAQ:PROV) SVP David Weiant Sells 1,012 Shares of 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 sale, the senior vice president directly owned 8,907 shares in the company, valued at $151,419. This trade represents a 10.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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 Stock Performance

Shares of PROV opened at $17.06 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $106.63 million, a P/E ratio of 18.54 and a beta of 0.33. The firm’s fifty day simple moving average is $16.95 and its two-hundred day simple moving average is $16.30. 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 issued 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). Provident Financial had a net margin of 10.27% and a return on equity of 4.77%. The firm had revenue of $14.57 million for 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. Shareholders of record on Thursday, May 14th were paid 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 payout ratio is 60.87%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Provident Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP bought a new stake in shares of Provident Financial during the third quarter valued at approximately $273,000. Empowered Funds LLC increased its holdings 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 acquiring an additional 2,120 shares in the last quarter. Federated Hermes Inc. increased its holdings 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 valued at $472,000 after acquiring an additional 3,459 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings 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 valued at $1,060,000 after acquiring an additional 1,834 shares in the last quarter. Finally, Fourthstone LLC increased its holdings 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 valued at $5,603,000 after acquiring an additional 121,329 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

About Provident Financial

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.