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

StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROV) in a report released on Tuesday. The firm issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler lifted 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

PROV opened at $15.10 on Tuesday. The business’s 50 day moving average is $15.88 and its 200-day moving average is $14.71. The stock has a market cap of $102.08 million, a PE ratio of 13.85 and a beta of 0.38. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93. Provident Financial has a twelve month low of $12.01 and a twelve month high of $16.70.

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

Provident Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.71%. Provident Financial’s dividend payout ratio is presently 51.38%.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently bought a new position 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 the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 69,050 shares of the financial services provider’s stock, valued at approximately $991,000. Fourthstone LLC owned approximately 1.02% of Provident Financial as of its most recent SEC filing. 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.