Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

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

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

Provident Financial Stock Performance

PROV opened at $14.19 on Friday. Provident Financial has a 1-year low of $10.16 and a 1-year high of $15.40. The stock has a market cap of $97.34 million, a P/E ratio of 13.64 and a beta of 0.40. The stock’s 50 day simple moving average is $13.24 and its 200 day simple moving average is $13.17. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.23 and a quick ratio of 1.23.

Provident Financial (NASDAQ:PROV) last posted its earnings results on Monday, July 29th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05. The company had revenue of $15.38 million for the quarter, compared to analyst estimates of $9.57 million. Provident Financial had a return on equity of 5.67% and a net margin of 12.53%. During the same quarter in the prior year, the company earned $0.26 earnings per share. As a group, equities analysts anticipate that Provident Financial will post 1 EPS for the current fiscal year.

Provident Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.95%. The ex-dividend date was Thursday, August 15th. Provident Financial’s payout ratio is 53.85%.

Institutional Trading of Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC boosted its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,831 shares of the financial services provider’s stock after purchasing an additional 1,575 shares during the quarter. Empowered Funds LLC owned about 0.33% of Provident Financial worth $305,000 as of its most recent filing with the Securities and Exchange Commission. 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.