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

Stock analysts at StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV) in a report released on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler lowered their price objective on shares of 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 Up 0.3 %

NASDAQ PROV opened at $14.55 on Thursday. Provident Financial has a one year low of $12.01 and a one year high of $16.70. The firm has a market cap of $97.35 million, a PE ratio of 15.99 and a beta of 0.35. The firm’s fifty day moving average is $15.13 and its two-hundred day moving average is $15.33. 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 (NASDAQ:PROV) last posted 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 in the previous year, the company earned $0.31 EPS. Analysts expect that Provident Financial will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On Provident Financial

A number of large investors have recently modified their holdings of PROV. 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. Fourthstone LLC boosted its position in shares of Provident Financial by 30.5% during the 4th quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 21,030 shares in the last quarter. Northern Trust Corp boosted its position in shares of Provident Financial by 25.9% during the 4th quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 5,445 shares in the last quarter. Black Maple Capital Management LP grew its stake in shares of Provident Financial by 8.9% during the 4th quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 2,557 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Provident Financial by 0.3% in the 4th 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. 71.34% of the stock is 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.