Provident Financial (NASDAQ:PROV) Releases Earnings Results, Misses Expectations By $0.07 EPS

Provident Financial (NASDAQ:PROV) posted its earnings results on Tuesday. The financial services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.07), Zacks reports. The company had revenue of $10.57 million for the quarter, compared to analyst estimates of $10.30 million.

Provident Financial Stock Performance

NASDAQ:PROV opened at $18.17 on Wednesday. Provident Financial has a 52 week low of $14.95 and a 52 week high of $18.99. The firm has a market cap of $112.64 million, a price-to-earnings ratio of 17.67 and a beta of 0.32. The firm’s 50-day simple moving average is $18.32 and its 200 day simple moving average is $17.17.

Provident Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 12th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Thursday, November 12th. Provident Financial’s dividend payout ratio (DPR) is currently 54.37%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PROV shares. Weiss Ratings upgraded Provident Financial from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, October 16th. Piper Sandler boosted their price target on shares of Provident Financial from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Zacks Research cut Provident Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. Finally, Wall Street Zen upgraded Provident Financial to a “hold” rating in a report on Saturday, October 3rd. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

About Provident Financial

Provident Financial Holdings, Inc is the holding company for Provident Savings Bank, a federally chartered community bank headquartered in Riverside, California. The bank serves individuals, families and businesses primarily in Southern California, with a focus on the Inland Empire and surrounding communities.

Provident Savings Bank offers a range of traditional banking products and services, including deposit accounts, residential mortgage loans, home equity financing, consumer loans and commercial real estate lending.