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

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

Provident Financial Price Performance

Shares of Provident Financial stock traded up $0.39 during trading on Wednesday, hitting $15.85. The stock had a trading volume of 6,690 shares, compared to its average volume of 6,969. The firm has a market cap of $107.30 million, a price-to-earnings ratio of 14.95 and a beta of 0.40. Provident Financial has a 12 month low of $10.16 and a 12 month high of $15.85. The business’s 50-day moving average is $14.52 and its 200 day moving average is $13.39. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.84.

Provident Financial Announces Dividend

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 issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.53%. Provident Financial’s payout ratio is currently 52.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PROV shares. Piper Sandler increased their target price on shares of Provident Financial from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday. StockNews.com assumed coverage on shares of Provident Financial in a report on Wednesday. They set a “hold” rating on the stock.

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.