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

StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROVFree Report) in a research note released on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler boosted their price objective on Provident Financial from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st.

Read Our Latest Research Report on Provident Financial

Provident Financial Trading Up 2.5 %

PROV stock opened at $15.85 on Wednesday. The firm has a fifty day moving average price of $14.52 and a 200 day moving average price of $13.39. Provident Financial has a fifty-two week low of $10.16 and a fifty-two week high of $15.85. The firm has a market cap of $107.30 million, a PE ratio of 14.95 and a beta of 0.40. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.23 and a current ratio of 1.23.

Provident Financial (NASDAQ:PROVGet Free Report) last released its quarterly earnings data 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 net margin of 12.53% and a return on equity of 5.67%. The business had revenue of $14.97 million during the quarter, compared to analyst estimates of $9.74 million. During the same quarter last year, the business earned $0.25 earnings per share. Sell-side analysts anticipate that Provident Financial will post 1 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.53%. The ex-dividend date is Thursday, November 14th. Provident Financial’s payout ratio is 52.83%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC increased its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROVFree Report) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,831 shares of the financial services provider’s stock after purchasing an additional 1,575 shares during the period. Empowered Funds LLC owned approximately 0.33% of Provident Financial worth $305,000 at the end of the most recent quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Provident Financial Company Profile

(Get Free Report)

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.

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