Provident Financial (NASDAQ:PROV) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Provident Financial (NASDAQ:PROV) released its quarterly earnings results on Monday. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03, Zacks reports. Provident Financial had a net margin of 12.53% and a return on equity of 5.67%. The firm had revenue of $14.97 million for the quarter, compared to analysts’ expectations of $9.74 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share.

Provident Financial Trading Up 2.5 %

NASDAQ PROV traded up $0.39 during trading on Wednesday, hitting $15.85. 6,690 shares of the company’s stock traded hands, compared to its average volume of 6,969. The stock has a fifty day moving average of $14.52 and a two-hundred day moving average of $13.39. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.23 and a quick ratio of 1.23. Provident Financial has a 12-month low of $10.16 and a 12-month high of $15.85. The firm has a market cap of $107.30 million, a P/E ratio of 14.95 and a beta of 0.40.

Provident Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.56 annualized dividend and a yield of 3.53%. Provident Financial’s payout ratio is 52.83%.

Analyst Ratings Changes

PROV has been the subject of several research reports. Piper Sandler upped their target price on shares of Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com initiated coverage on shares of Provident Financial in a research report on Wednesday. They issued a “hold” rating for the company.

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.