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

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

Separately, Piper Sandler upped their target price 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 Price Performance

Provident Financial stock opened at $15.91 on Friday. The firm has a market capitalization of $107.60 million, a P/E ratio of 14.60 and a beta of 0.38. Provident Financial has a one year low of $12.01 and a one year high of $16.70. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day moving average price of $15.90 and a 200-day moving average price of $14.32.

Provident Financial (NASDAQ:PROV) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.74 million. During the same quarter last year, the company earned $0.25 EPS. As a group, equities research analysts forecast that Provident Financial will post 1.05 EPS for the current year.

Provident Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.52%. Provident Financial’s dividend payout ratio is currently 51.38%.

Institutional Trading of Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC boosted its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,657 shares of the financial services provider’s stock after purchasing an additional 1,206 shares during the quarter. 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 (SEC). 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.