StockNews.com Initiates Coverage on Provident Financial (NASDAQ:PROV)

Research analysts at StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV) in a research report issued to clients and investors on Friday. The firm set 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 company a “neutral” rating in a research note on Wednesday, October 30th.

Provident Financial Stock Performance

PROV stock opened at $16.44 on Friday. Provident Financial has a 1-year low of $12.01 and a 1-year high of $16.70. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93. The stock has a 50-day moving average price of $15.77 and a 200-day moving average price of $14.20. The firm has a market cap of $111.18 million, a PE ratio of 15.08 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $14.97 million for the quarter, compared to analyst estimates of $9.74 million. Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. During the same period in the previous year, the firm earned $0.25 earnings per share. As a group, equities research analysts expect that Provident Financial will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC raised its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,657 shares of the financial services provider’s stock after buying an additional 1,206 shares during the period. Empowered Funds LLC owned about 0.38% of Provident Financial worth $368,000 as of its most recent filing with the Securities and Exchange Commission. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.