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

Equities research analysts at StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV) in a report released on Sunday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler raised their price objective on Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th.

Provident Financial Stock Performance

PROV opened at $16.15 on Friday. The company’s 50 day moving average is $15.98 and its 200 day moving average is $14.50. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93. The company has a market cap of $109.22 million, a price-to-earnings ratio of 14.82 and a beta of 0.38. Provident Financial has a 12-month low of $12.01 and a 12-month high of $16.70.

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 the consensus estimate of $0.25 by $0.03. The business had revenue of $14.97 million for the quarter, compared to analysts’ expectations of $9.74 million. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. During the same quarter last year, the company posted $0.25 EPS. On average, equities research analysts predict that Provident Financial will post 1.05 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC raised its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,657 shares of the financial services provider’s stock after acquiring 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 SEC filing. 71.34% of the stock is currently owned by institutional investors.

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.