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

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

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

Provident Financial Stock Up 2.6 %

Shares of PROV opened at $15.75 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.84. The firm has a market cap of $106.63 million, a P/E ratio of 14.45 and a beta of 0.39. The company’s 50-day moving average price is $14.67 and its 200 day moving average price is $13.45. Provident Financial has a 12-month low of $10.76 and a 12-month high of $16.00.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data 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. Provident Financial had a net margin of 12.58% and a return on equity of 5.77%. The firm had revenue of $14.97 million for the quarter, compared to analyst estimates of $9.74 million. During the same period in the prior year, the business posted $0.25 EPS. On average, sell-side analysts forecast that Provident Financial will post 1.05 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC grew its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,831 shares of the financial services provider’s stock after buying an additional 1,575 shares during the quarter. Empowered Funds LLC owned 0.33% of Provident Financial worth $305,000 as of its most recent filing with the SEC. 71.34% of the stock is currently 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.