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

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

Provident Financial Trading Down 0.3 %

PROV stock traded down $0.05 during mid-day trading on Wednesday, reaching $15.46. The company had a trading volume of 454 shares, compared to its average volume of 6,938. The company has a market capitalization of $104.66 million, a PE ratio of 14.59 and a beta of 0.40. The firm has a 50 day moving average of $14.46 and a 200 day moving average of $13.37. Provident Financial has a 12 month low of $10.16 and a 12 month high of $15.70. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 14th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.62%. Provident Financial’s payout ratio is 52.83%.

Analysts Set New Price Targets

Several brokerages have issued reports on PROV. StockNews.com started coverage on Provident Financial in a research report on Wednesday. They set a “hold” rating for the company. Piper Sandler boosted their price objective on Provident Financial from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

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.