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

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

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

Provident Financial Trading Up 1.2 %

Provident Financial stock opened at $16.18 on Wednesday. Provident Financial has a 1 year low of $12.01 and a 1 year high of $16.70. The firm’s 50 day moving average price is $15.88 and its 200-day moving average price is $14.85. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $109.38 million, a P/E ratio of 14.84 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. During the same quarter in the previous year, the firm posted $0.31 earnings per share. On average, equities analysts predict that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 13th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Thursday, February 13th. Provident Financial’s payout ratio is 51.38%.

Institutional Trading of Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC increased its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,657 shares of the financial services provider’s stock after purchasing an additional 1,206 shares during the period. Empowered Funds LLC owned approximately 0.38% of Provident Financial worth $368,000 at the end of the most recent quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.