David Weiant Sells 2,732 Shares of Provident Financial (NASDAQ:PROV) Stock

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

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 Down 0.5%

NASDAQ PROV opened at $16.97 on Friday. The business’s 50-day moving average price is $16.99 and its two-hundred day moving average price is $16.33. Provident Financial Holdings, Inc. has a 12 month low of $14.95 and a 12 month high of $17.42. The firm has a market capitalization of $106.06 million, a PE ratio of 18.45 and a beta of 0.33. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.45.

Provident Financial (NASDAQ:PROV) last released 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 company had revenue of $14.57 million during the quarter, compared to the consensus estimate of $10.10 million.

Provident Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, May 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.3%. Provident Financial’s dividend payout ratio is presently 60.87%.

Wall Street Analyst Weigh In

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

Institutional Trading of Provident Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. increased 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 valued at $472,000 after acquiring an additional 3,459 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 valued at $500,000 after buying an additional 1,834 shares during the period. 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 valued at $5,603,000 after buying an additional 121,329 shares during the period. Bridgeway Capital Management LLC grew its position 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 valued at $1,060,000 after purchasing an additional 1,834 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of Provident Financial in the third quarter valued at $273,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.