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

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

Separately, Piper Sandler decreased their price target on shares of Provident Financial from $15.00 to $14.00 and set a neutral rating for the company in a research note on Wednesday, May 1st.

Provident Financial Trading Down 2.2 %

Shares of PROV stock opened at $13.01 on Monday. The company has a 50 day moving average of $12.64 and a 200-day moving average of $13.32. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.81. Provident Financial has a 12-month low of $10.16 and a 12-month high of $15.40. The firm has a market cap of $89.48 million, a P/E ratio of 12.51 and a beta of 0.39.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.05. Provident Financial had a net margin of 12.53% and a return on equity of 5.68%. The company had revenue of $15.38 million during the quarter, compared to analyst estimates of $9.57 million. During the same quarter last year, the business posted $0.26 EPS. Sell-side analysts anticipate that Provident Financial will post 1.1 earnings per share for the current year.

Provident Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Thursday, August 15th. Provident Financial’s dividend payout ratio (DPR) is presently 53.85%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC increased its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the 1st quarter, according to the company in its most recent filing with the Securities and 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 0.33% of Provident Financial worth $305,000 as of its most recent SEC filing. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.