Provident Financial (NASDAQ:PROV) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Provident Financial (NASDAQ:PROV) in a report released on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler raised their price target on shares of 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 Price Performance

PROV opened at $15.45 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.84. The business’s fifty day simple moving average is $14.60 and its 200-day simple moving average is $13.42. Provident Financial has a 12-month low of $10.16 and a 12-month high of $15.91. The company has a market capitalization of $104.60 million, a price-to-earnings ratio of 14.17 and a beta of 0.40.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Provident Financial had a return on equity of 5.77% and a net margin of 12.58%. The business had revenue of $14.97 million for the quarter, compared to the consensus estimate of $9.74 million. During the same period in the prior year, the firm posted $0.25 earnings per share. On average, equities research analysts anticipate that Provident Financial will post 1.05 earnings per share for the current fiscal year.

Provident Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th will be issued a $0.14 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.56 annualized dividend and a yield of 3.62%. Provident Financial’s payout ratio is 51.38%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Provident Financial stock. Empowered Funds LLC increased its stake in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 0.33% of Provident Financial worth $305,000 at the end of the most recent quarter. Institutional investors own 71.34% of the company’s stock.

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.