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

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

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

Provident Financial Stock Performance

PROV opened at $15.01 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93. Provident Financial has a 12-month low of $12.01 and a 12-month high of $16.70. The firm has a 50 day moving average of $15.99 and a two-hundred day moving average of $14.59. The firm has a market capitalization of $101.51 million, a PE ratio of 13.77 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts anticipate that Provident Financial will post 1.05 EPS for the current year.

Hedge Funds Weigh In On Provident Financial

A hedge fund recently bought a new stake in Provident Financial stock. Fourthstone LLC bought a new position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 69,050 shares of the financial services provider’s stock, valued at approximately $991,000. Fourthstone LLC owned 1.02% of Provident Financial at the end of the most recent reporting period. 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.