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

Equities research analysts at StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV) in a research report issued on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler increased their target price 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 Trading Up 1.6 %

NASDAQ:PROV opened at $15.81 on Thursday. 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 has a one year low of $10.76 and a one year high of $16.00. The company has a market cap of $107.02 million, a PE ratio of 14.50 and a beta of 0.39. The firm has a 50-day moving average of $14.76 and a 200-day moving average of $13.50.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $14.97 million during the quarter, compared to the consensus estimate of $9.74 million. Provident Financial had a return on equity of 5.77% and a net margin of 12.58%. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, equities research analysts expect that Provident Financial will post 1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC raised its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,831 shares of the financial services provider’s stock after acquiring an additional 1,575 shares during the quarter. Empowered Funds LLC owned approximately 0.33% of Provident Financial worth $305,000 as of its most recent filing with the Securities & Exchange Commission. 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.