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

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

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

Provident Financial Stock Down 0.4 %

PROV opened at $16.31 on Thursday. Provident Financial has a 12 month low of $11.75 and a 12 month high of $16.45. The business has a 50-day moving average of $15.58 and a two-hundred day moving average of $14.08. The stock has a market capitalization of $110.26 million, a price-to-earnings ratio of 14.96 and a beta of 0.38. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25.

Provident Financial (NASDAQ:PROV) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $14.97 million for the quarter, compared to analysts’ expectations of $9.74 million. Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. During the same quarter last year, the firm earned $0.25 earnings per share. On average, research analysts expect that Provident Financial will post 1.05 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC lifted its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,657 shares of the financial services provider’s stock after buying an additional 1,206 shares during the quarter. Empowered Funds LLC owned 0.38% of Provident Financial worth $368,000 as of its most recent filing with the SEC. Hedge funds and other 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.