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

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

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

Provident Financial Price Performance

Provident Financial stock opened at $15.81 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.84. The company has a fifty day simple moving average of $14.76 and a 200-day simple moving average of $13.51. The stock has a market cap of $107.03 million, a P/E ratio of 14.50 and a beta of 0.39. Provident Financial has a 12-month low of $10.76 and a 12-month high of $16.00.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Provident Financial had a return on equity of 5.77% and a net margin of 12.58%. The business had revenue of $14.97 million during the quarter, compared to analysts’ expectations of $9.74 million. During the same period in the prior year, the firm posted $0.25 EPS. Equities analysts expect that Provident Financial will post 1.05 EPS for the current fiscal year.

Provident Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.54%. Provident Financial’s dividend payout ratio (DPR) is currently 51.38%.

Institutional Investors Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC grew its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,831 shares of the financial services provider’s stock after buying an additional 1,575 shares during the quarter. Empowered Funds LLC owned 0.33% of Provident Financial worth $305,000 as of its most recent filing with the SEC. Institutional investors own 71.34% of the company’s stock.

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.