Provident Financial (NASDAQ:PROV) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Provident Financial (NASDAQ:PROV) issued its quarterly earnings results on Monday. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05, Zacks reports. Provident Financial had a net margin of 12.53% and a return on equity of 5.68%. The company had revenue of $15.38 million during the quarter, compared to analyst estimates of $9.57 million. During the same period last year, the business earned $0.26 EPS.

Provident Financial Stock Up 4.6 %

Shares of PROV stock traded up $0.58 during mid-day trading on Thursday, hitting $13.30. The company’s stock had a trading volume of 10,335 shares, compared to its average volume of 9,247. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.21 and a current ratio of 1.21. Provident Financial has a 52-week low of $10.16 and a 52-week high of $15.40. The stock has a market cap of $91.48 million, a price-to-earnings ratio of 12.79 and a beta of 0.39. The business has a 50-day moving average price of $12.63 and a 200 day moving average price of $13.32.

Provident Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Thursday, August 15th. Provident Financial’s payout ratio is 53.85%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PROV. Piper Sandler raised their price objective on Provident Financial from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday. StockNews.com began coverage on Provident Financial in a report on Monday. They set a “hold” rating for the company.

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.