Provident Financial (NASDAQ:PROV) SVP Sells $17,100.00 in Stock

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $17.10, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Provident Financial Price Performance

PROV opened at $16.92 on Monday. The stock’s 50 day simple moving average is $16.92 and its 200 day simple moving average is $16.28. 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 1 year low of $14.95 and a 1 year high of $17.42. The firm has a market cap of $105.75 million, a price-to-earnings ratio of 18.39 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 for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The business 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 disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, May 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.3%. Provident Financial’s payout ratio is presently 60.87%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC raised its stake in shares of Provident Financial by 2.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 66,654 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 1,834 shares during the last quarter. Fourthstone LLC raised its stake in shares of Provident Financial by 52.6% in the fourth quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock worth $5,603,000 after purchasing an additional 121,329 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Provident Financial by 6.2% in the fourth quarter. Empowered Funds LLC now owns 31,454 shares of the financial services provider’s stock worth $500,000 after purchasing an additional 1,834 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Provident Financial by 13.2% in the fourth quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 3,459 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of Provident Financial in the third quarter worth $273,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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, According to MarketBeat.com, Provident Financial has a consensus rating of “Hold” and a consensus target price 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.