Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

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

Separately, Piper Sandler lifted their target price on Provident Financial from $13.00 to $14.00 and gave the company a neutral rating in a research note on Wednesday, July 31st.

Provident Financial Stock Down 0.3 %

Shares of PROV stock traded down $0.04 on Tuesday, hitting $13.21. The stock had a trading volume of 909 shares, compared to its average volume of 9,387. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.81. The business has a 50 day moving average price of $12.70 and a 200 day moving average price of $13.31. The company has a market cap of $90.88 million, a PE ratio of 12.70 and a beta of 0.39. Provident Financial has a one year low of $10.16 and a one year high of $15.40.

Provident Financial (NASDAQ:PROV) last posted its earnings results on Monday, July 29th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.05. Provident Financial had a return on equity of 5.68% and a net margin of 12.53%. The company had revenue of $15.38 million for the quarter, compared to analyst estimates of $9.57 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Research analysts anticipate that Provident Financial will post 1 earnings per share for the current fiscal year.

Provident Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.24%. Provident Financial’s payout ratio is 53.85%.

Institutional Investors Weigh In On Provident Financial

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 7.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 22,831 shares of the financial services provider’s stock after acquiring an additional 1,575 shares during the period. Empowered Funds LLC owned approximately 0.33% of Provident Financial worth $305,000 at the end of the most recent quarter. 71.34% of the stock is currently owned by institutional investors.

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.