Initiates Coverage on Provident Financial (NASDAQ:PROV)

Analysts at started coverage on shares of Provident Financial (NASDAQ:PROVGet Free Report) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler reduced their target price on Provident Financial from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st.

Get Our Latest Analysis on Provident Financial

Provident Financial Price Performance

PROV opened at $12.51 on Tuesday. The firm has a 50-day moving average price of $12.92 and a 200-day moving average price of $13.22. Provident Financial has a twelve month low of $10.16 and a twelve month high of $15.40. 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 company has a market capitalization of $86.07 million, a price-to-earnings ratio of 12.03 and a beta of 0.41.

Provident Financial (NASDAQ:PROVGet Free Report) last released its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). The business had revenue of $9.41 million during the quarter, compared to analysts’ expectations of $9.72 million. Provident Financial had a net margin of 12.57% and a return on equity of 5.56%. Equities analysts expect that Provident Financial will post 0.99 EPS for the current year.

Institutional Trading of Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Empowered Funds LLC grew its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROVFree Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,831 shares of the financial services provider’s stock after purchasing an additional 1,575 shares during the quarter. Empowered Funds LLC owned approximately 0.33% of Provident Financial worth $305,000 as of its most recent SEC filing. Institutional investors and hedge funds own 71.34% of the company’s stock.

Provident Financial Company Profile

(Get Free Report)

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.

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