Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

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

Separately, Piper Sandler lifted their price objective on Provident Financial from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th.

Provident Financial Stock Down 0.1 %

PROV opened at $16.00 on Friday. The firm has a market cap of $108.21 million, a price-to-earnings ratio of 14.68 and a beta of 0.38. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.25 and a current ratio of 1.25. The firm’s 50-day simple moving average is $15.97 and its 200-day simple moving average is $14.47. Provident Financial has a twelve month low of $12.01 and a twelve month high of $16.70.

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

Provident Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were paid a $0.14 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.50%. Provident Financial’s dividend payout ratio (DPR) is currently 51.38%.

Hedge Funds Weigh In On Provident Financial

A hedge fund recently bought a new stake in Provident Financial stock. Fourthstone LLC bought a new stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 69,050 shares of the financial services provider’s stock, valued at approximately $991,000. Fourthstone LLC owned 1.02% of Provident Financial at the end of the most recent quarter. 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.