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

StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the financial services provider’s stock.

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

Provident Financial Price Performance

PROV opened at $15.85 on Wednesday. The company has a fifty day simple moving average of $15.88 and a 200 day simple moving average of $14.85. The firm has a market cap of $107.15 million, a price-to-earnings ratio of 14.54 and a beta of 0.38. Provident Financial has a twelve month low of $12.01 and a twelve month high of $16.70. 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 (NASDAQ:PROV) last released its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.13). Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. During the same quarter last year, the business earned $0.31 EPS. Equities research analysts expect that Provident Financial will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC grew its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,657 shares of the financial services provider’s stock after acquiring an additional 1,206 shares during the period. Empowered Funds LLC owned about 0.38% of Provident Financial worth $368,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.