Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV) in a research report report published on Friday morning. The firm issued a hold rating on the financial services provider’s stock.

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

Provident Financial Trading Up 0.2 %

Shares of PROV opened at $16.44 on Friday. Provident Financial has a one year low of $12.01 and a one year high of $16.70. The stock has a 50-day moving average price of $15.74 and a 200 day moving average price of $14.18. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $111.18 million, a P/E ratio of 15.08 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last released its earnings results on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $14.97 million during the quarter, compared to analysts’ expectations of $9.74 million. Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. During the same period in the prior year, the business posted $0.25 EPS. Sell-side analysts forecast that Provident Financial will post 1.05 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were issued a $0.14 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.41%. Provident Financial’s dividend payout ratio (DPR) is 51.38%.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC lifted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,657 shares of the financial services provider’s stock after buying an additional 1,206 shares during the quarter. Empowered Funds LLC owned approximately 0.38% of Provident Financial worth $368,000 as of its most recent filing with the SEC. Institutional investors 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.