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

StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a research report report published on Wednesday. The brokerage issued a hold rating on the financial services provider’s stock.

Provident Financial Stock Performance

Shares of NASDAQ PROV opened at $13.00 on Wednesday. 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 firm’s 50-day moving average price is $13.83 and its two-hundred day moving average price is $13.00. Provident Financial has a 52-week low of $10.16 and a 52-week high of $15.40. The stock has a market capitalization of $90.09 million, a P/E ratio of 11.30 and a beta of 0.40.

Provident Financial (NASDAQ:PROV) last issued its earnings results on Monday, January 29th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Provident Financial had a net margin of 14.43% and a return on equity of 6.20%. The firm had revenue of $9.65 million for the quarter, compared to analysts’ expectations of $10.00 million. As a group, sell-side analysts forecast that Provident Financial will post 1.05 earnings per share for the current year.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. raised its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,798 shares of the financial services provider’s stock after purchasing an additional 1,173 shares during the quarter. Federated Hermes Inc. owned about 0.37% of Provident Financial worth $338,000 as of its most recent filing with the Securities and Exchange Commission. 71.34% of the stock is owned by institutional investors and hedge funds.

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.