Provident Financial (NASDAQ:PROV) Announces Quarterly Earnings Results

Posted by Stephan Jacobs on Jul 30th, 2024

Provident Financial (NASDAQ:PROV – Get Free Report) announced its earnings results on Monday. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.05, Zacks reports. Provident Financial had a return on equity of 5.56% and a net margin of 12.57%. The firm had revenue of $15.38 million for the quarter, compared to the consensus estimate of $9.57 million. During the same period in the previous year, the business earned $0.26 EPS.

Provident Financial Stock Performance

PROV opened at $13.60 on Tuesday. The company has a current ratio of 1.21, a quick 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 50 day moving average of $12.62 and a two-hundred day moving average of $13.32. The firm has a market capitalization of $93.57 million, a PE ratio of 13.08 and a beta of 0.39.

Provident Financial Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.56 annualized dividend and a yield of 4.12%. Provident Financial’s dividend payout ratio (DPR) is presently 53.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com started coverage on shares of Provident Financial in a research note on Monday. They set a “hold” rating on the stock. Piper Sandler cut their target price on Provident Financial from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st.

View Our Latest Report on PROV

About Provident Financial

(Get Free Report)

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.