StockNews.com Begins Coverage on Provident Financial (NASDAQ:PROV)

StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a research note released on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

Provident Financial Stock Up 0.1 %

Provident Financial stock opened at $13.00 on Wednesday. The company has a market capitalization of $90.09 million, a P/E ratio of 11.30 and a beta of 0.40. The firm’s fifty day simple moving average is $13.83 and its 200-day simple moving average is $13.00. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.87. Provident Financial has a 1-year low of $10.16 and a 1-year high of $15.40.

Provident Financial (NASDAQ:PROV) last announced its earnings results on Monday, January 29th. The financial services provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. The firm had revenue of $9.65 million for the quarter, compared to the consensus estimate of $10.00 million. Provident Financial had a net margin of 14.43% and a return on equity of 6.20%. Sell-side analysts forecast that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Institutional Trading of Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Federated Hermes Inc. boosted its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,798 shares of the financial services provider’s stock after purchasing an additional 1,173 shares during the quarter. Federated Hermes Inc. owned about 0.37% of Provident Financial worth $338,000 at the end of the most recent quarter. Institutional investors 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.