Provident Financial (NASDAQ:PROV) Receives New Coverage from Analysts at StockNews.com

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

Separately, Piper Sandler lifted their price target on Provident Financial from $13.00 to $14.00 and gave the stock a neutral rating in a report on Wednesday, July 31st.

Provident Financial Trading Down 0.3 %

PROV opened at $14.61 on Friday. Provident Financial has a 12 month low of $10.16 and a 12 month high of $15.40. The stock has a market capitalization of $100.22 million, a price-to-earnings ratio of 14.31 and a beta of 0.40. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.23 and a quick ratio of 1.23. The business has a fifty day moving average price of $13.46 and a 200 day moving average price of $13.18.

Provident Financial (NASDAQ:PROV) last released its earnings results on Monday, July 29th. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.23 by $0.05. The firm had revenue of $15.38 million during the quarter, compared to analysts’ expectations of $9.57 million. Provident Financial had a return on equity of 5.67% and a net margin of 12.53%. During the same period in the previous year, the firm posted $0.26 EPS. Sell-side analysts expect that Provident Financial will post 1 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Thursday, August 15th. Provident Financial’s payout ratio is currently 53.85%.

Institutional Trading of Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC increased its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 22,831 shares of the financial services provider’s stock after purchasing an additional 1,575 shares during the period. Empowered Funds LLC owned 0.33% of Provident Financial worth $305,000 at the end of the most recent quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

About Provident Financial

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.