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

StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROV) in a research note issued to investors on Monday. The brokerage issued a hold rating on the financial services provider’s stock.

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

Provident Financial Stock Down 0.8 %

PROV opened at $14.89 on Monday. The company has a market capitalization of $100.70 million, a PE ratio of 13.66 and a beta of 0.38. The firm has a 50-day simple moving average of $15.97 and a two-hundred day simple moving average of $14.60. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.93. Provident Financial has a 52 week low of $12.01 and a 52 week high of $16.70.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $14.97 million during 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 prior year, the company earned $0.25 earnings per share. Analysts forecast that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.76%. Provident Financial’s dividend payout ratio is presently 51.38%.

Institutional Trading of Provident Financial

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