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

Analysts at StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a report issued on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their target price on Provident Financial from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st.

Provident Financial Trading Up 0.2 %

NASDAQ:PROV opened at $12.22 on Thursday. The company has a market capitalization of $84.07 million, a P/E ratio of 11.75 and a beta of 0.41. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.21 and a current ratio of 1.21. The stock’s 50 day moving average price is $12.68 and its 200 day moving average price is $13.28. Provident Financial has a 52 week low of $10.16 and a 52 week high of $15.40.

Provident Financial (NASDAQ:PROV) last announced its earnings results on Monday, April 29th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The company had revenue of $9.41 million for the quarter, compared to the consensus estimate of $9.72 million. Provident Financial had a return on equity of 5.56% and a net margin of 12.57%. On average, research analysts forecast that Provident Financial will post 0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. grew its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,798 shares of the financial services provider’s stock after acquiring an additional 1,173 shares during the quarter. Federated Hermes Inc. owned 0.37% of Provident Financial worth $338,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.