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

Research analysts at StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROV) in a research report issued on Tuesday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler cut their target price on Provident Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th.

Provident Financial Stock Up 0.1 %

Shares of NASDAQ PROV opened at $14.16 on Tuesday. The company’s 50 day moving average price is $15.36 and its 200-day moving average price is $15.34. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.25 and a current ratio of 1.25. Provident Financial has a 52-week low of $12.01 and a 52-week high of $16.70. The company has a market capitalization of $94.74 million, a P/E ratio of 15.56 and a beta of 0.35.

Provident Financial (NASDAQ:PROV) last released its earnings results on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.13). Provident Financial had a net margin of 10.39% and a return on equity of 4.81%. During the same quarter last year, the business posted $0.31 earnings per share. Equities analysts forecast that Provident Financial will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On Provident Financial

Large investors have recently bought and sold shares of the stock. Empowered Funds LLC raised its holdings in shares of Provident Financial by 4.9% during the third quarter. Empowered Funds LLC now owns 25,657 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 1,206 shares during the period. Northern Trust Corp increased its position in Provident Financial by 25.9% in the 4th quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock valued at $421,000 after buying an additional 5,445 shares in the last quarter. Black Maple Capital Management LP raised its stake in Provident Financial by 8.9% during the 4th quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock worth $495,000 after buying an additional 2,557 shares during the period. Fourthstone LLC bought a new position in Provident Financial in the third quarter worth approximately $991,000. Finally, The Manufacturers Life Insurance Company grew its stake in Provident Financial by 7.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock valued at $5,326,000 after acquiring an additional 23,117 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.