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

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

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

Provident Financial Trading Down 1.4 %

NASDAQ PROV opened at $15.91 on Friday. The company has a market capitalization of $107.60 million, a price-to-earnings ratio of 14.60 and a beta of 0.38. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25. Provident Financial has a 12 month low of $12.01 and a 12 month high of $16.70. The company’s fifty day moving average price is $15.90 and its two-hundred day moving average price is $14.32.

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

Hedge Funds Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC lifted its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the third quarter, according to 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 quarter. Empowered Funds LLC owned about 0.38% of Provident Financial worth $368,000 as of its most recent filing with the Securities and Exchange Commission. 71.34% of the stock is owned by institutional investors and hedge funds.

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.