Provident Financial (NASDAQ:PROV) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Provident Financial (NASDAQ:PROV) in a research report released on Friday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler boosted their price target on shares of Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th.

Provident Financial Stock Up 0.2 %

Shares of Provident Financial stock opened at $16.44 on Friday. Provident Financial has a twelve month low of $12.01 and a twelve month high of $16.70. The stock has a market capitalization of $111.18 million, a price-to-earnings ratio of 15.08 and a beta of 0.38. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.93. The business’s 50 day simple moving average is $15.77 and its 200-day simple moving average is $14.22.

Provident Financial (NASDAQ:PROV) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $14.97 million for the quarter, compared to the consensus estimate 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 posted $0.25 EPS. Equities research analysts forecast that Provident Financial will post 1.05 earnings per share for the current year.

Provident Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 14th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.41%. The ex-dividend date was Thursday, November 14th. Provident Financial’s payout ratio is 51.38%.

Institutional Investors Weigh In On Provident Financial

An institutional investor recently bought a new position in Provident Financial stock. Fourthstone LLC purchased a new position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 69,050 shares of the financial services provider’s stock, valued at approximately $991,000. Fourthstone LLC owned about 1.02% of Provident Financial as of its most recent SEC filing. 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.