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

Provident Financial Holdings, Inc. (NASDAQ:PROV) SVP David Weiant sold 2,732 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $17.12, for a total transaction of $46,771.84. Following the completion of the transaction, the senior vice president owned 6,175 shares in the company, valued at approximately $105,716. This trade represents a 30.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction 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 transaction of $17,100.00.

Provident Financial Price Performance

Shares of NASDAQ PROV opened at $17.06 on Thursday. Provident Financial Holdings, Inc. has a one year low of $14.95 and a one year high of $17.42. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s 50 day simple moving average is $16.97 and its two-hundred day simple moving average is $16.31. The stock has a market capitalization of $106.63 million, a P/E ratio of 18.54 and a beta of 0.33.

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 the consensus estimate of $0.29 by ($0.08). Provident Financial had a return on equity of 4.77% and a net margin of 10.27%.The firm had revenue of $14.57 million during the quarter, compared to the consensus estimate of $10.10 million.

Provident Financial Dividend Announcement

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

Institutional Investors Weigh In On Provident Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new stake in shares of Provident Financial during the 3rd quarter valued at about $273,000. Empowered Funds LLC increased its position in shares of Provident Financial by 7.9% during the 1st quarter. Empowered Funds LLC now owns 29,084 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 2,120 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Provident Financial by 13.2% during the 4th quarter. Federated Hermes Inc. now owns 29,657 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 3,459 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Provident Financial by 2.8% during the 4th 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 during the last quarter. Finally, Fourthstone LLC increased its position in shares of Provident Financial by 52.6% during the 4th quarter. Fourthstone LLC now owns 352,151 shares of the financial services provider’s stock valued at $5,603,000 after purchasing an additional 121,329 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.00.

About Provident Financial

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.