Provident Financial (NASDAQ:PROV) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Provident Financial (NASDAQ:PROV) issued its quarterly earnings results on Monday. The financial services provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.05, Zacks reports. The business had revenue of $15.38 million for the quarter, compared to analysts’ expectations of $9.57 million. Provident Financial had a net margin of 12.57% and a return on equity of 5.56%. During the same quarter last year, the company posted $0.26 EPS.

Provident Financial Trading Down 1.1 %

Provident Financial stock traded down $0.15 during midday trading on Tuesday, reaching $13.45. The stock had a trading volume of 399 shares, compared to its average volume of 5,403. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.81. Provident Financial has a 52-week low of $10.16 and a 52-week high of $15.40. The firm has a market cap of $92.54 million, a price-to-earnings ratio of 13.08 and a beta of 0.39. The company has a fifty day moving average of $12.62 and a 200 day moving average of $13.32.

Provident Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Thursday, August 15th. Provident Financial’s dividend payout ratio (DPR) is currently 53.85%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PROV shares. Piper Sandler dropped their price target on shares of Provident Financial from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. StockNews.com began coverage on shares of Provident Financial in a report on Monday. They issued a “hold” rating on the 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.