Key Points
- SVP David Weiant sold 1,000 shares of Provident Financial on June 4 at an average price of $17.10, for total proceeds of $17,100. After the sale, he still owned 9,919 shares.
- Provident Financial recently reported quarterly EPS of $0.21, which missed analyst expectations of $0.29, though revenue of $14.57 million came in above estimates.
- The company paid a quarterly dividend of $0.14 per share, equal to an annualized yield of about 3.3%, while analysts currently rate the stock a consensus Hold with a $16.00 target price.
Provident Financial Holdings, Inc. (NASDAQ:PROV - Get Free Report) SVP David Weiant sold 1,000 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $17.10, for a total transaction of $17,100.00. Following the completion of the sale, the senior vice president directly owned 9,919 shares of the company's stock, valued at $169,614.90. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Provident Financial Stock Performance
Provident Financial stock opened at $16.92 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $105.75 million, a PE ratio of 18.39 and a beta of 0.33. The firm has a fifty day simple moving average of $16.92 and a two-hundred day simple moving average of $16.27. Provident Financial Holdings, Inc. has a twelve month low of $14.95 and a twelve month high of $17.42.
Provident Financial (NASDAQ:PROV - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share (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 during the quarter, compared to analysts' expectations of $10.10 million.
Provident Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were given a $0.14 dividend. The ex-dividend date was Thursday, May 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.3%. Provident Financial's payout ratio is presently 60.87%.
Hedge Funds Weigh In On Provident Financial
A number of hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP purchased a new position in shares of Provident Financial during the third quarter valued at about $273,000. Empowered Funds LLC increased 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 period. 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 buying an additional 3,459 shares during the period. Bridgeway Capital Management LLC increased its position 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 buying an additional 1,834 shares during the period. Finally, Fourthstone LLC increased its position 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 buying an additional 121,329 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "hold (c)" rating on shares of Provident Financial in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $16.00.
Check Out Our Latest Stock Analysis on PROV
About Provident Financial
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
