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

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

Provident Financial Stock Up 4.6 %

PROV stock opened at $13.30 on Thursday. Provident Financial has a 12-month low of $10.16 and a 12-month high of $15.40. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.81. The company has a market cap of $91.48 million, a price-to-earnings ratio of 12.79 and a beta of 0.39. The company has a 50 day moving average of $12.63 and a two-hundred day moving average of $13.32.

Provident Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on PROV. Piper Sandler increased their target price on shares of Provident Financial from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday. StockNews.com began coverage on shares of Provident Financial in a research report on Monday. They issued 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.