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

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

Provident Financial Stock Down 0.5 %

Shares of Provident Financial stock opened at $12.93 on Wednesday. The company has a fifty day moving average price of $13.80 and a 200 day moving average price of $13.00. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.87. Provident Financial has a twelve month low of $10.16 and a twelve month high of $15.40. The stock has a market cap of $89.60 million, a price-to-earnings ratio of 11.24 and a beta of 0.40.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $9.65 million during the quarter, compared to analysts’ expectations of $10.00 million. Provident Financial had a net margin of 14.43% and a return on equity of 6.20%. Equities research analysts forecast that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Federated Hermes Inc. raised its position in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,798 shares of the financial services provider’s stock after buying an additional 1,173 shares during the period. Federated Hermes Inc. owned approximately 0.37% of Provident Financial worth $338,000 at the end of the most recent quarter. 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.