Provident Financial (NASDAQ:PROV) Stock Crosses Above 200 Day Moving Average - Here's Why

Shares of Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.69 and traded as high as $15.01. Provident Financial shares last traded at $14.87, with a volume of 4,509 shares trading hands.

Wall Street Analysts Forecast Growth

PROV has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Provident Financial from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. StockNews.com initiated coverage on shares of Provident Financial in a research report on Tuesday. They set a "hold" rating for the company.

Provident Financial Stock Performance

The stock has a market cap of $102.08 million, a P/E ratio of 13.85 and a beta of 0.38. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.25 and a current ratio of 1.25. The business's 50-day moving average price is $15.90 and its 200-day moving average price is $14.69.

Provident Financial (NASDAQ:PROV - Get Free Report) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $14.97 million during the quarter, compared to the consensus estimate of $9.74 million. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, sell-side analysts expect that Provident Financial Holdings, Inc. will post 1.05 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.71%. Provident Financial's payout ratio is 51.38%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC lifted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV - Free Report) by 4.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,657 shares of the financial services provider's stock after acquiring an additional 1,206 shares during the period. Empowered Funds LLC owned 0.38% of Provident Financial worth $368,000 at the end of the most recent quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.