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

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

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

Provident Financial Trading Up 0.6 %

NASDAQ PROV opened at $16.41 on Friday. Provident Financial has a 12 month low of $11.82 and a 12 month high of $16.70. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93. The stock has a 50 day moving average of $15.74 and a 200-day moving average of $14.18. The company has a market cap of $110.98 million, a PE ratio of 15.06 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $14.97 million during the quarter, compared to analysts’ expectations of $9.74 million. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. During the same quarter last year, the company posted $0.25 earnings per share. On average, equities research analysts anticipate that Provident Financial will post 1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC increased its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,657 shares of the financial services provider’s stock after buying an additional 1,206 shares during the period. Empowered Funds LLC owned 0.38% of Provident Financial worth $368,000 as of its most recent filing with the SEC. 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.