Provident Financial (NASDAQ:PROV) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Provident Financial (NASDAQ:PROV) released its quarterly earnings data on Monday. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03, Zacks reports. Provident Financial had a net margin of 12.53% and a return on equity of 5.67%. The company had revenue of $14.97 million during the quarter, compared to analysts’ expectations of $9.74 million. During the same quarter in the previous year, the company earned $0.25 earnings per share.

Provident Financial Price Performance

NASDAQ PROV traded down $0.06 during mid-day trading on Thursday, hitting $15.79. The stock had a trading volume of 670 shares, compared to its average volume of 6,938. The firm’s 50 day moving average is $14.52 and its 200 day moving average is $13.39. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $106.90 million, a price-to-earnings ratio of 14.95 and a beta of 0.40. Provident Financial has a twelve month low of $10.16 and a twelve month high of $15.91.

Provident Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Thursday, November 14th. Provident Financial’s dividend payout ratio is presently 52.83%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com initiated coverage on Provident Financial in a research note on Wednesday. They issued a “hold” rating for the company. Piper Sandler upped their price objective on shares of Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday.

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.