StockNews.com Initiates Coverage on Provident Financial (NASDAQ:PROV)

Analysts at StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV) in a research note issued to investors on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

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

Provident Financial Trading Down 0.4 %

NASDAQ:PROV opened at $16.31 on Thursday. The stock has a market capitalization of $110.26 million, a price-to-earnings ratio of 14.96 and a beta of 0.38. Provident Financial has a 1 year low of $11.75 and a 1 year high of $16.45. The stock has a fifty day moving average price of $15.58 and a two-hundred day moving average price of $14.08. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.25 and a current ratio of 1.25.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. The business had revenue of $14.97 million during the quarter, compared to the consensus estimate of $9.74 million. During the same quarter last year, the firm posted $0.25 EPS. As a group, sell-side analysts anticipate that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Provident Financial

An institutional investor recently bought a new position in Provident Financial stock. Fourthstone LLC purchased a new stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 69,050 shares of the financial services provider’s stock, valued at approximately $991,000. Fourthstone LLC owned about 1.02% of Provident Financial at the end of the most recent reporting period. 71.34% of the stock is owned by institutional investors.

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.