Provident Financial (NASDAQ:PROV) Issues Earnings Results

Provident Financial (NASDAQ:PROV) issued its quarterly earnings results on Monday. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.05, Zacks reports. The firm had revenue of $15.38 million during the quarter, compared to the consensus estimate of $9.57 million. Provident Financial had a return on equity of 5.68% and a net margin of 12.53%. During the same period last year, the company earned $0.26 earnings per share.

Provident Financial Stock Performance

Provident Financial stock traded up $0.58 during midday trading on Wednesday, hitting $13.30. The stock had a trading volume of 10,335 shares, compared to its average volume of 5,636. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.81. Provident Financial has a 52-week low of $10.16 and a 52-week high of $15.40. The company has a market capitalization of $91.50 million, a PE ratio of 12.79 and a beta of 0.39. The firm’s fifty day moving average is $12.63 and its two-hundred day moving average is $13.32.

Provident Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Thursday, August 15th. Provident Financial’s dividend payout ratio (DPR) is presently 53.85%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PROV shares. StockNews.com assumed coverage on Provident Financial in a research report on Monday. They set a “hold” rating on the stock. Piper Sandler raised their price target on shares of Provident Financial from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday.

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.