Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV) in a research report issued on Monday. The brokerage set a “hold” rating on the financial services provider’s stock.

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

Provident Financial Trading Down 0.7 %

NASDAQ PROV opened at $14.79 on Monday. The firm has a market cap of $98.96 million, a P/E ratio of 16.25 and a beta of 0.35. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s 50-day moving average is $15.56 and its 200-day moving average is $15.32. Provident Financial has a one year low of $12.01 and a one year high of $16.70.

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

Institutional Investors Weigh In On Provident Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC grew its stake in 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in Provident Financial by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider’s stock valued at $7,737,000 after purchasing an additional 1,342 shares in the last quarter. Black Maple Capital Management LP grew its stake in Provident Financial by 8.9% in the fourth quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock valued at $495,000 after purchasing an additional 2,557 shares in the last quarter. Northern Trust Corp grew its stake in Provident Financial by 25.9% in the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 5,445 shares in the last quarter. Finally, Fourthstone LLC grew its stake in Provident Financial by 30.5% in the fourth quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 21,030 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.