Provident Financial (NASDAQ:PROV) Now Covered by StockNews.com

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

Separately, Piper Sandler reduced their price objective on shares of Provident Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th.

Provident Financial Price Performance

NASDAQ:PROV opened at $13.50 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.91. Provident Financial has a 52 week low of $12.01 and a 52 week high of $16.70. The stock’s 50-day moving average price is $15.19 and its 200-day moving average price is $15.33. The stock has a market capitalization of $90.33 million, a PE ratio of 14.84 and a beta of 0.35.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate 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. As a group, equities analysts expect that Provident Financial will post 0.9 EPS for the current fiscal year.

Institutional Trading of Provident Financial

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Provident Financial by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider’s stock worth $7,737,000 after purchasing an additional 1,342 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position 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 last quarter. Fourthstone LLC grew its stake in Provident Financial by 30.5% during the 4th quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider’s stock valued at $1,433,000 after acquiring an additional 21,030 shares in the last quarter. Black Maple Capital Management LP raised its holdings in Provident Financial by 8.9% in the 4th quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock valued at $495,000 after acquiring an additional 2,557 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Provident Financial by 5.1% in the 4th quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 1,307 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.