Insider Selling: Provident Financial (NASDAQ:PROV) SVP Sells 1,012 Shares of Stock

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 1,012 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $17.00, for a total transaction of $17,204.00. Following the completion of the transaction, the senior vice president owned 8,907 shares in the company, valued at $151,419. This represents a 10.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, June 4th, David Weiant sold 1,000 shares of Provident Financial stock. The stock was sold at an average price of $17.10, for a total transaction of $17,100.00.

Provident Financial Stock Up 1.6%

PROV stock traded up $0.27 during trading on Tuesday, reaching $17.06. The stock had a trading volume of 8,445 shares, compared to its average volume of 8,124. Provident Financial Holdings, Inc. has a 1-year low of $14.95 and a 1-year high of $17.42. 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 company has a market capitalization of $106.69 million, a P/E ratio of 18.54 and a beta of 0.33. The firm has a fifty day moving average price of $16.93 and a 200 day moving average price of $16.29.

Provident Financial (NASDAQ:PROV) last issued its earnings results 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). The company had revenue of $14.57 million during the quarter, compared to analyst estimates of $10.10 million. Provident Financial had a net margin of 10.27% and a return on equity of 4.77%.

Provident Financial Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PROV. Susquehanna International Group LLP bought a new position in Provident Financial in the 3rd quarter worth about $273,000. Empowered Funds LLC grew its position in Provident Financial by 7.9% in the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 2,120 shares during the last quarter. Federated Hermes Inc. grew its position in Provident Financial by 13.2% in the 4th 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. Bridgeway Capital Management LLC grew its position in Provident Financial by 2.8% in the 4th 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. Finally, Fourthstone LLC grew its position in Provident Financial by 52.6% in the 4th 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. Institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Provident Financial in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average 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.