Provident Financial (NASDAQ:PROV) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a research report sent to investors on Sunday morning. The firm issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler lifted their price target on shares of Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th.

Provident Financial Stock Performance

Shares of PROV opened at $15.80 on Friday. Provident Financial has a 1 year low of $12.01 and a 1 year high of $16.70. 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 company’s fifty day moving average is $15.99 and its two-hundred day moving average is $14.52. The stock has a market capitalization of $106.86 million, a P/E ratio of 14.50 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. The business had revenue of $14.97 million for the quarter, compared to analysts’ expectations of $9.74 million. During the same quarter in the prior year, the firm posted $0.25 EPS. On average, sell-side analysts predict that Provident Financial will post 1.05 earnings per share for the current year.

Provident Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were issued a $0.14 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.56 annualized dividend and a yield of 3.54%. Provident Financial’s payout ratio is 51.38%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC boosted its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,657 shares of the financial services provider’s stock after buying an additional 1,206 shares during the quarter. Empowered Funds LLC owned approximately 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.