Provident Financial (NASDAQ:PROV) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the financial services provider’s stock.

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

Provident Financial Stock Down 1.4 %

Shares of PROV opened at $15.91 on Friday. The company has a market capitalization of $107.60 million, a PE ratio of 14.60 and a beta of 0.38. The stock’s 50-day moving average price is $15.90 and its two-hundred day moving average price is $14.34. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93. Provident Financial has a 12 month low of $12.01 and a 12 month high of $16.70.

Provident Financial (NASDAQ:PROV) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Provident Financial had a return on equity of 5.78% and a net margin of 12.58%. The business had revenue of $14.97 million for the quarter, compared to analysts’ expectations of $9.74 million. During the same period in the prior year, the business posted $0.25 earnings per share. On average, analysts anticipate that Provident Financial will post 1.05 EPS for the current year.

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC increased its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,657 shares of the financial services provider’s stock after acquiring an additional 1,206 shares during the quarter. Empowered Funds LLC owned approximately 0.38% of Provident Financial worth $368,000 at the end of the most recent quarter. 71.34% of the stock is currently 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.