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

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

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

Provident Financial Stock Performance

NASDAQ PROV opened at $15.91 on Friday. 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 has a 1-year low of $12.01 and a 1-year high of $16.70. The firm has a market capitalization of $107.60 million, a P/E ratio of 14.60 and a beta of 0.38. The business’s 50-day simple moving average is $15.90 and its 200-day simple moving average is $14.32.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results 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 net margin of 12.58% and a return on equity of 5.78%. The firm had revenue of $14.97 million for the quarter, compared to analysts’ expectations of $9.74 million. During the same period in the previous year, the company posted $0.25 earnings per share. Equities analysts predict that Provident Financial will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC grew its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,657 shares of the financial services provider’s stock after acquiring an additional 1,206 shares during the period. Empowered Funds LLC owned about 0.38% of Provident Financial worth $368,000 as of its most recent SEC filing. 71.34% of the stock is owned by institutional investors and hedge funds.

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.