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

StockNews.com began coverage on shares of Provident Financial (NASDAQ:PROV) in a research report issued on Saturday. The firm set a “hold” rating on the financial services provider’s stock.

Separately, Piper Sandler lifted their price target on Provident Financial from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th.

Provident Financial Price Performance

Shares of NASDAQ:PROV opened at $15.91 on Friday. Provident Financial has a twelve month low of $12.01 and a twelve month high of $16.70. The stock’s 50 day moving average is $15.90 and its 200-day moving average is $14.34. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $107.60 million, a price-to-earnings ratio of 14.60 and a beta of 0.38.

Provident Financial (NASDAQ:PROV) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $14.97 million for the quarter, compared to analyst estimates of $9.74 million. Provident Financial had a net margin of 12.58% and a return on equity of 5.78%. During the same period last year, the firm earned $0.25 earnings per share. Sell-side analysts forecast that Provident Financial will post 1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC lifted its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,657 shares of the financial services provider’s stock after buying an additional 1,206 shares during the period. Empowered Funds LLC owned approximately 0.38% of Provident Financial worth $368,000 at the end of the most recent reporting period. 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.