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

Stock analysts at StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROV) in a report issued on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler increased their target price on Provident Financial from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th.

Provident Financial Stock Performance

Shares of Provident Financial stock opened at $16.15 on Friday. The stock has a market cap of $109.22 million, a price-to-earnings ratio of 14.82 and a beta of 0.38. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.25 and a quick ratio of 1.25. Provident Financial has a 1 year low of $12.01 and a 1 year high of $16.70. The firm’s 50-day moving average is $15.98 and its 200 day moving average is $14.50.

Provident Financial (NASDAQ:PROV) last issued 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. The firm 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 12.58% and a return on equity of 5.78%. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Sell-side analysts anticipate that Provident Financial will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC raised its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,657 shares of the financial services provider’s stock after buying an additional 1,206 shares during the period. Empowered Funds LLC owned about 0.38% of Provident Financial worth $368,000 as of its most recent SEC filing. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.