Provident Financial (NASDAQ:PROV) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROV) in a report issued on Friday morning. The firm issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler raised their price objective on shares of Provident Financial from $13.00 to $14.00 and gave the company a neutral rating in a research note on Wednesday, July 31st.

Provident Financial Price Performance

Shares of PROV opened at $14.36 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average is $12.98 and its two-hundred day moving average is $13.19. Provident Financial has a twelve month low of $10.16 and a twelve month high of $15.40. The firm has a market capitalization of $98.77 million, a PE ratio of 13.81 and a beta of 0.39.

Provident Financial (NASDAQ:PROV) last posted its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. The firm had revenue of $15.38 million for the quarter, compared to the consensus estimate of $9.57 million. Provident Financial had a return on equity of 5.68% and a net margin of 12.53%. During the same period in the previous year, the business earned $0.26 earnings per share. Research analysts anticipate that Provident Financial will post 1 earnings per share for the current year.

Provident Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.90%. The ex-dividend date is Thursday, August 15th. Provident Financial’s payout ratio is currently 53.85%.

Institutional Trading of Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC boosted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,831 shares of the financial services provider’s stock after acquiring an additional 1,575 shares during the period. Empowered Funds LLC owned 0.33% of Provident Financial worth $305,000 as of its most recent filing with the Securities and Exchange Commission. 71.34% of the stock is 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.