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

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

Separately, Piper Sandler upped their price objective on Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th.

Provident Financial Stock Performance

NASDAQ PROV opened at $16.44 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $111.18 million, a PE ratio of 15.08 and a beta of 0.38. The business’s 50-day moving average price is $15.74 and its 200 day moving average price is $14.18. Provident Financial has a twelve month low of $12.01 and a twelve month high of $16.70.

Provident Financial (NASDAQ:PROV) last released its earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. The business had revenue of $14.97 million for the quarter, compared to analysts’ expectations of $9.74 million. During the same period last year, the company earned $0.25 earnings per share. On average, research analysts predict that Provident Financial will post 1.05 earnings per share for the current year.

Provident Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 14th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, November 14th. Provident Financial’s dividend payout ratio (DPR) is presently 51.38%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC lifted its holdings in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,657 shares of the financial services provider’s stock after acquiring an additional 1,206 shares during the quarter. Empowered Funds LLC owned about 0.38% of Provident Financial worth $368,000 as of its most recent filing with the Securities and Exchange Commission. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.