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

StockNews.com assumed coverage on shares of Provident Financial (NASDAQ:PROV) in a research note published on Thursday. The brokerage issued a hold rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their price objective on Provident Financial from $15.00 to $14.00 and set a neutral rating on the stock in a report on Wednesday, May 1st.

Provident Financial Stock Down 0.3 %

NASDAQ PROV opened at $12.50 on Thursday. The business’s fifty day simple moving average is $12.64 and its 200-day simple moving average is $13.30. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.81. The firm has a market cap of $85.98 million, a PE ratio of 12.02 and a beta of 0.41. Provident Financial has a 52 week low of $10.16 and a 52 week high of $15.40.

Provident Financial (NASDAQ:PROV) last issued its earnings results on Monday, April 29th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). Provident Financial had a return on equity of 5.56% and a net margin of 12.57%. The firm had revenue of $9.41 million for the quarter, compared to analysts’ expectations of $9.72 million. As a group, equities analysts anticipate that Provident Financial will post 0.99 earnings per share for the current year.

Provident Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend was Wednesday, May 15th. Provident Financial’s dividend payout ratio (DPR) is presently 53.85%.

Institutional Investors Weigh In On Provident Financial

A hedge fund recently raised its stake in Provident Financial stock. Federated Hermes Inc. grew its position in shares of Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,798 shares of the financial services provider’s stock after purchasing an additional 1,173 shares during the period. Federated Hermes Inc. owned approximately 0.37% of Provident Financial worth $338,000 as of its most recent SEC filing. 71.34% of the stock is currently owned by 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.