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

Research analysts at StockNews.com began 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 cut their price objective on Provident Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th.

Provident Financial Stock Up 0.5 %

Provident Financial stock opened at $15.59 on Friday. Provident Financial has a 52 week low of $12.01 and a 52 week high of $16.70. The stock has a market cap of $104.31 million, a price-to-earnings ratio of 17.13 and a beta of 0.39. The company’s 50-day moving average price is $15.78 and its two-hundred day moving average price is $15.18. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.91.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.13). Provident Financial had a net margin of 10.39% and a return on equity of 4.81%. During the same period last year, the business posted $0.31 earnings per share. On average, analysts expect that Provident Financial will post 0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Provident Financial

Large investors have recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in Provident Financial by 4.9% in the 3rd quarter. Empowered Funds LLC now owns 25,657 shares of the financial services provider’s stock worth $368,000 after purchasing an additional 1,206 shares during the period. Northern Trust Corp lifted its holdings in shares of Provident Financial by 25.9% in the fourth quarter. Northern Trust Corp now owns 26,464 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 5,445 shares in the last quarter. Black Maple Capital Management LP boosted its position in shares of Provident Financial by 8.9% in the fourth quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock worth $495,000 after buying an additional 2,557 shares during the period. Fourthstone LLC purchased a new position in shares of Provident Financial during the third quarter valued at $991,000. Finally, The Manufacturers Life Insurance Company raised its position in Provident Financial by 7.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock valued at $5,326,000 after buying an additional 23,117 shares during the period. 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.