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

Analysts at StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the financial services provider’s stock.

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

Provident Financial Stock Performance

NASDAQ PROV opened at $15.01 on Monday. 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’s 50 day simple moving average is $15.99 and its 200-day simple moving average is $14.59. The company has a market cap of $101.51 million, a PE ratio of 13.77 and a beta of 0.38. Provident Financial has a 1-year low of $12.01 and a 1-year high of $16.70.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.28 earnings per share for the quarter, beating 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 company had revenue of $14.97 million for the quarter, compared to analyst estimates of $9.74 million. During the same quarter last year, the firm posted $0.25 EPS. As a group, equities research analysts anticipate that Provident Financial will post 1.05 EPS for the current fiscal year.

Institutional Trading of Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC lifted its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% in the third quarter, according to its most recent Form 13F 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 at the end of the most recent reporting period. 71.34% of the stock is currently 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.