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

Provident Financial (NASDAQ:PROV) posted its quarterly earnings results on Monday. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03, Zacks reports. 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 5.67% and a net margin of 12.53%. During the same quarter in the previous year, the business earned $0.25 earnings per share.

Provident Financial Price Performance

PROV stock opened at $15.47 on Wednesday. The stock has a 50-day simple moving average of $14.46 and a 200-day simple moving average of $13.37. The firm has a market cap of $104.73 million, a P/E ratio of 14.59 and a beta of 0.40. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.23 and a current ratio of 1.23. Provident Financial has a 1 year low of $10.16 and a 1 year high of $15.70.

Provident Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Thursday, November 14th. Provident Financial’s payout ratio is 52.83%.

Analysts Set New Price Targets

PROV has been the subject of a number of research reports. StockNews.com started coverage on Provident Financial in a report on Wednesday. They set a “hold” rating for the company. Piper Sandler boosted their price objective on shares of Provident Financial from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note 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.