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

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

Separately, Piper Sandler cut their price objective on Provident Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th.

Provident Financial Trading Down 0.3 %

Provident Financial stock opened at $15.30 on Friday. The stock has a 50-day moving average of $15.68 and a two-hundred day moving average of $15.25. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.25 and a current ratio of 1.25. Provident Financial has a one year low of $12.01 and a one year high of $16.70. The stock has a market cap of $102.37 million, a PE ratio of 16.81 and a beta of 0.39.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Provident Financial had a net margin of 10.39% and a return on equity of 4.81%. During the same period last year, the business earned $0.31 earnings per share. On average, research analysts anticipate that Provident Financial will post 0.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PROV. Empowered Funds LLC increased its holdings in shares of Provident Financial by 4.9% in the third quarter. Empowered Funds LLC now owns 25,657 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 1,206 shares during the period. Fourthstone LLC acquired a new stake in Provident Financial during the third quarter worth about $991,000. Dimensional Fund Advisors LP grew its holdings in Provident Financial by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider’s stock worth $7,737,000 after acquiring an additional 1,342 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Provident Financial by 7.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock worth $5,326,000 after acquiring an additional 23,117 shares during the period. Finally, Northern Trust Corp grew its holdings in Provident Financial by 25.9% during the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 5,445 shares during the period. 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.