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

Equities researchers at StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROV) in a report released on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler dropped their target price on shares of Provident Financial from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th.

Provident Financial Stock Down 3.8 %

Shares of PROV stock opened at $13.95 on Thursday. The stock’s 50 day simple moving average is $15.07 and its 200 day simple moving average is $15.32. Provident Financial has a twelve month low of $12.01 and a twelve month high of $16.70. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $93.34 million, a price-to-earnings ratio of 15.33 and a beta of 0.35.

Provident Financial (NASDAQ:PROV) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.13). Provident Financial had a net margin of 10.39% and a return on equity of 4.81%. During the same period last year, the company posted $0.31 EPS. As a group, research analysts predict that Provident Financial will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PROV. Dimensional Fund Advisors LP increased its position in Provident Financial by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 486,296 shares of the financial services provider’s stock worth $7,737,000 after acquiring an additional 1,342 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Provident Financial by 7.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 334,789 shares of the financial services provider’s stock valued at $5,326,000 after purchasing an additional 23,117 shares during the period. Fourthstone LLC grew its position in Provident Financial by 30.5% in the 4th quarter. Fourthstone LLC now owns 90,080 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 21,030 shares during the last quarter. Black Maple Capital Management LP increased its holdings in shares of Provident Financial by 8.9% during the 4th quarter. Black Maple Capital Management LP now owns 31,128 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 2,557 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Provident Financial by 5.1% during the fourth quarter. Empowered Funds LLC now owns 26,964 shares of the financial services provider’s stock valued at $429,000 after buying an additional 1,307 shares during the last quarter. 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.