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 research note issued to investors on Tuesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler upped their price objective on Provident Financial from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

Provident Financial Trading Down 0.9 %

Shares of PROV stock opened at $13.13 on Tuesday. The business’s fifty day moving average price is $12.68 and its 200 day moving average price is $13.31. Provident Financial has a 1-year low of $10.16 and a 1-year high of $15.40. The firm has a market capitalization of $90.31 million, a PE ratio of 12.63 and a beta of 0.39. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.21 and a quick ratio of 1.21.

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

Hedge Funds Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC increased its stake in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,831 shares of the financial services provider’s stock after buying an additional 1,575 shares during the quarter. Empowered Funds LLC owned about 0.33% of Provident Financial worth $305,000 as of its most recent filing with the SEC. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.