Provident Financial (NASDAQ:PROV) Now Covered by StockNews.com

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

Provident Financial Trading Down 0.2 %

PROV opened at $13.36 on Tuesday. The stock has a market cap of $92.58 million, a PE ratio of 11.62 and a beta of 0.40. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.87. The business has a 50 day moving average of $13.93 and a 200-day moving average of $12.99. Provident Financial has a 52 week low of $10.16 and a 52 week high of $15.40.

Provident Financial (NASDAQ:PROV) last released its earnings results on Monday, January 29th. The financial services provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $9.65 million during the quarter, compared to analysts’ expectations of $10.00 million. Provident Financial had a return on equity of 6.20% and a net margin of 14.43%. Equities research analysts predict that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PROV. Federated Hermes Inc. increased its holdings in shares of Provident Financial by 4.8% in the 3rd quarter. Federated Hermes Inc. now owns 25,798 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 1,173 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Provident Financial by 2.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 352,267 shares of the financial services provider’s stock worth $5,826,000 after purchasing an additional 8,604 shares in the last quarter. Raffles Associates LP increased its holdings in shares of Provident Financial by 2.6% in the 1st quarter. Raffles Associates LP now owns 391,349 shares of the financial services provider’s stock worth $5,334,000 after purchasing an additional 10,000 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Provident Financial by 0.8% in the 2nd quarter. BlackRock Inc. now owns 290,372 shares of the financial services provider’s stock worth $3,702,000 after purchasing an additional 2,413 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Provident Financial by 6.4% in the 2nd quarter. Baird Financial Group Inc. now owns 164,062 shares of the financial services provider’s stock worth $2,092,000 after purchasing an additional 9,813 shares in the last quarter. Hedge funds and other 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.