Provident Financial (NASDAQ:PROV) Coverage Initiated at StockNews.com

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

Separately, Piper Sandler boosted their price target on shares of Provident Financial from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st.

Provident Financial Stock Performance

PROV stock opened at $15.57 on Wednesday. The company has a 50-day simple moving average of $14.52 and a 200 day simple moving average of $13.39. The company has a market capitalization of $105.38 million, a P/E ratio of 14.28 and a beta of 0.40. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.84. Provident Financial has a fifty-two week low of $10.16 and a fifty-two week high of $15.91.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Provident Financial had a net margin of 12.58% and a return on equity of 5.77%. The company had revenue of $14.97 million during the quarter, compared to analyst estimates of $9.74 million. During the same period in the prior year, the business posted $0.25 EPS. Sell-side analysts predict that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC lifted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,831 shares of the financial services provider’s stock after buying an additional 1,575 shares during the period. Empowered Funds LLC owned about 0.33% of Provident Financial worth $305,000 as of its most recent SEC filing. 71.34% of the stock is owned by 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.