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

Research analysts at StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV) in a research report issued to clients and investors on Sunday. The brokerage 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 Price Performance

Shares of PROV stock opened at $16.00 on Friday. The firm has a fifty day moving average of $15.97 and a two-hundred day moving average of $14.46. The firm has a market cap of $108.21 million, a P/E ratio of 14.68 and a beta of 0.38. Provident Financial has a 1-year low of $12.01 and a 1-year high of $16.70. 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 (NASDAQ:PROV) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. The business had revenue of $14.97 million during the quarter, compared to the consensus estimate of $9.74 million. During the same period last year, the firm earned $0.25 earnings per share. As a group, research analysts anticipate that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Provident Financial

A hedge fund recently bought a new stake in Provident Financial stock. Fourthstone LLC bought a new stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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 quarter. 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.