Provident Financial (NASDAQ:PROV) Now Covered by StockNews.com

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

Separately, Piper Sandler lowered their target price on Provident Financial from $15.00 to $14.00 and set a neutral rating on the stock in a research note on Wednesday, May 1st.

Provident Financial Stock Performance

Provident Financial stock opened at $12.28 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $84.46 million, a P/E ratio of 11.81 and a beta of 0.39. Provident Financial has a fifty-two week low of $10.16 and a fifty-two week high of $15.40. The firm’s 50 day simple moving average is $12.57 and its 200-day simple moving average is $13.32.

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

Provident Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 16th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Wednesday, May 15th. Provident Financial’s dividend payout ratio (DPR) is presently 53.85%.

Institutional Trading of Provident Financial

An institutional investor recently raised its position in Provident Financial stock. Federated Hermes Inc. raised its holdings in Provident Financial Holdings, Inc. (NASDAQ:PROV) by 4.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,798 shares of the financial services provider’s stock after acquiring an additional 1,173 shares during the quarter. Federated Hermes Inc. owned about 0.37% of Provident Financial worth $338,000 at the end of the most recent quarter. 71.34% of the stock is owned by hedge funds and other 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.