Provident Financial (NASDAQ:PROV) Coverage Initiated by Analysts at StockNews.com

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

Separately, Piper Sandler reduced their price objective on shares of Provident Financial from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st.

Provident Financial Stock Up 2.0 %

PROV stock opened at $12.51 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.81. Provident Financial has a 1 year low of $10.16 and a 1 year high of $15.40. The company has a fifty day simple moving average of $12.53 and a 200 day simple moving average of $13.30. The firm has a market cap of $86.07 million, a PE ratio of 12.03 and a beta of 0.39.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). Provident Financial had a net margin of 12.57% and a return on equity of 5.56%. The business had revenue of $9.41 million during the quarter, compared to analyst estimates of $9.72 million. Sell-side analysts anticipate that Provident Financial will post 0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

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