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

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

Separately, Piper Sandler dropped their price objective on shares of Provident Financial from $15.00 to $14.00 and set a neutral rating for the company in a research note on Wednesday, May 1st.

Provident Financial Price Performance

Shares of NASDAQ PROV opened at $12.36 on Wednesday. The firm has a market capitalization of $85.04 million, a P/E ratio of 11.88 and a beta of 0.41. Provident Financial has a one year low of $10.16 and a one year high of $15.40. The company’s fifty day moving average is $12.78 and its two-hundred day moving average is $13.25. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.21 and a current ratio of 1.21.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.02). Provident Financial had a return on equity of 5.56% and a net margin of 12.57%. The business had revenue of $9.41 million during the quarter, compared to analysts’ expectations of $9.72 million. Analysts forecast that Provident Financial will post 0.99 EPS for the current fiscal year.

Provident Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Wednesday, May 15th. Provident Financial’s dividend payout ratio (DPR) is currently 53.85%.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. lifted its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,798 shares of the financial services provider’s stock after acquiring an additional 1,173 shares during the period. Federated Hermes Inc. owned about 0.37% of Provident Financial worth $338,000 at the end of the most recent reporting period. Institutional investors 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.